2,920 Shares in Conagra Brands, Inc. (NYSE:CAG) Bought by SL Advisors LLC

SL Advisors LLC bought a new stake in Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, Holdings Channel.com reports. The fund bought 2,920 shares of the company’s stock, valued at approximately $95,000.

Other hedge funds have also modified their holdings of the company. Chilton Capital Management LLC acquired a new position in Conagra Brands during the 2nd quarter valued at about $25,000. Innealta Capital LLC purchased a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $25,000. Whittier Trust Co. boosted its stake in Conagra Brands by 144.4% in the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares in the last quarter. LRI Investments LLC purchased a new stake in Conagra Brands during the 1st quarter worth approximately $44,000. Finally, Iron Horse Wealth Management LLC purchased a new stake in Conagra Brands during the 1st quarter worth approximately $59,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

NYSE:CAG opened at $29.20 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. Conagra Brands, Inc. has a 52 week low of $26.42 and a 52 week high of $33.24. The stock’s 50-day moving average price is $31.23 and its 200-day moving average price is $30.29. The stock has a market capitalization of $13.96 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is presently 191.78%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CAG shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 target price for the company. Bank of America decreased their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Barclays cut their price target 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. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $31.33.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is currently owned by company insiders.

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.