Parallel Advisors LLC Purchases 1,535 Shares of Conagra Brands, Inc. (NYSE:CAG)

Parallel Advisors LLC raised its stake in Conagra Brands, Inc. (NYSE:CAG) by 13.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,852 shares of the company’s stock after purchasing an additional 1,535 shares during the period. Parallel Advisors LLC’s holdings in Conagra Brands were worth $365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Chilton Capital Management LLC bought a new stake in Conagra Brands in the second quarter valued at $25,000. Innealta Capital LLC bought a new stake in Conagra Brands in the second quarter valued at $25,000. Whittier Trust Co. increased its stake in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after purchasing an additional 836 shares in the last quarter. LRI Investments LLC bought a new stake in Conagra Brands in the first quarter valued at $44,000. Finally, Security National Bank bought a new stake in Conagra Brands in the fourth quarter valued at $48,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

NYSE CAG opened at $32.56 on Wednesday. The company’s 50 day moving average is $30.56 and its 200-day moving average is $29.92. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market cap of $15.57 billion, a P/E ratio of 44.60, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. Sell-side analysts predict 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 given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is currently 191.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CAG shares. Citigroup decreased their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. Evercore ISI reduced their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Bank of America lifted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and a consensus target price of $31.10.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

Conagra Brands Company Profile

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.