Segall Bryant & Hamill LLC acquired a new position in Conagra Brands, Inc. (NYSE:CAG – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 34,200 shares of the company’s stock, valued at approximately $1,112,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands in the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new position in shares of Conagra Brands in the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Conagra Brands in the 1st quarter worth about $44,000. Finally, Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands in the 3rd quarter worth about $47,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CAG has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Bank of America dropped their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group started 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. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $31.63.
Conagra Brands Trading Up 0.9 %
CAG opened at $27.42 on Friday. The business has a 50 day simple moving average of $29.67 and a two-hundred day simple moving average of $29.91. The firm has a market capitalization of $13.09 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.80 and a beta of 0.34. 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, Inc. has a one year low of $26.21 and a one year high of $33.24.
Conagra Brands (NYSE:CAG – Get Free Report) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. Analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.
Conagra Brands Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend 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.
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