Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by MCF Advisors LLC

MCF Advisors LLC increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 126.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,490 shares of the company’s stock after acquiring an additional 1,950 shares during the period. MCF Advisors LLC’s holdings in Conagra Brands were worth $99,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. lifted its position in Conagra Brands by 7.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock worth $155,000 after acquiring an additional 373 shares in the last quarter. Czech National Bank lifted its position in Conagra Brands by 0.5% during the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after acquiring an additional 392 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in Conagra Brands by 5.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock worth $226,000 after acquiring an additional 403 shares in the last quarter. Summit Financial Wealth Advisors LLC lifted its position in Conagra Brands by 1.1% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after acquiring an additional 430 shares in the last quarter. Finally, Courier Capital LLC lifted its position in Conagra Brands by 1.7% during the 2nd quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock worth $759,000 after acquiring an additional 438 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company cut their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI cut their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Stifel Nicolaus cut their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Finally, Barclays cut their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.90.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $32.75 on Friday. The company has a market capitalization of $15.66 billion, a price-to-earnings ratio of 44.86, a price-to-earnings-growth ratio of 2.86 and a beta of 0.32. The business has a 50 day simple moving average of $30.08 and a 200-day simple moving average of $29.73. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $32.85.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.27%. Conagra Brands’s payout ratio is 191.78%.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.