Evergreen Capital Management LLC Increases Stake in Conagra Brands, Inc. (NYSE:CAG)

Evergreen Capital Management LLC lifted its stake in Conagra Brands, Inc. (NYSE:CAG) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,841 shares of the company’s stock after buying an additional 562 shares during the quarter. Evergreen Capital Management LLC’s holdings in Conagra Brands were worth $450,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAG. Chilton Capital Management LLC bought a new position in shares of Conagra Brands during the 2nd quarter valued at about $25,000. Innealta Capital LLC bought a new position in Conagra Brands during the second quarter valued at approximately $25,000. Whittier Trust Co. grew its holdings in Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after buying an additional 836 shares in the last quarter. LRI Investments LLC bought a new stake in Conagra Brands in the 1st quarter worth approximately $44,000. Finally, Security National Bank purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $48,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.6 %

Shares of NYSE CAG opened at $32.49 on Friday. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The company has a market cap of $15.53 billion, a price-to-earnings ratio of 44.51, a PEG ratio of 2.95 and a beta of 0.32. The business’s 50 day moving average price is $31.10 and its 200-day moving average price is $30.15.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The business 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 business’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. On average, sell-side analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.31%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAG shares. Citigroup cut their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Royal Bank of Canada reduced their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus lowered their price target 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. The Goldman Sachs Group began coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Evercore ISI lowered their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.10.

Insider Activity

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.