Conagra Brands, Inc. (NYSE:CAG) Holdings Raised by Tectonic Advisors LLC

Tectonic Advisors LLC increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 18.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 16,286 shares of the company’s stock after purchasing an additional 2,481 shares during the period. Tectonic Advisors LLC’s holdings in Conagra Brands were worth $530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CAG. Innealta Capital LLC bought a new position in shares of Conagra Brands in the 2nd quarter worth about $25,000. Chilton Capital Management LLC bought a new position in Conagra Brands in the second quarter worth about $25,000. Hexagon Capital Partners LLC lifted its holdings in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Conagra Brands by 144.4% during 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 during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Conagra Brands during the 1st quarter worth approximately $42,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Insiders Place Their Bets

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.51% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CAG shares. Stifel Nicolaus reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Evercore ISI reduced their price target 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. The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Barclays reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Wells Fargo & Company raised their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Up 0.3 %

CAG stock opened at $29.44 on Friday. The firm’s 50-day moving average is $31.06 and its two-hundred day moving average is $30.26. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 3.03 and a beta of 0.32. Conagra Brands, Inc. has a 52 week low of $26.62 and a 52 week high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is currently 135.92%.

Conagra Brands 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.