CWA Asset Management Group LLC Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

CWA Asset Management Group LLC purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, HoldingsChannel reports. The fund purchased 6,223 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors have also modified their holdings of the company. Chilton Capital Management LLC purchased a new stake in Conagra Brands during the second quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in shares of Conagra Brands during the second quarter worth $25,000. Hexagon Capital Partners LLC lifted its holdings in shares of Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Conagra Brands in the 1st quarter worth $44,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Conagra Brands during the 3rd quarter worth $47,000. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAG has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Bank of America lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Down 0.1 %

CAG stock opened at $27.64 on Thursday. The company has a market capitalization of $13.19 billion, a P/E ratio of 26.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.34. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24. The firm’s fifty day simple moving average is $30.42 and its 200-day simple moving average is $30.09. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results 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 analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The business 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 annualized dividend and a yield of 5.07%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

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.