Wealth Alliance Has $1.21 Million Stake in Conagra Brands, Inc. (NYSE:CAG)

Wealth Alliance boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 22.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,679 shares of the company’s stock after acquiring an additional 7,949 shares during the period. Wealth Alliance’s holdings in Conagra Brands were worth $1,213,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its position in Conagra Brands by 237.9% during the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock worth $2,281,000 after acquiring an additional 54,195 shares during the last quarter. Stifel Financial Corp raised its position in shares of Conagra Brands by 12.2% during the fourth quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock valued at $23,385,000 after buying an additional 88,576 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Conagra Brands by 663.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 436,698 shares of the company’s stock valued at $12,516,000 after buying an additional 379,473 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Conagra Brands by 261.3% during the first quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock valued at $4,360,000 after buying an additional 106,368 shares during the last quarter. Finally, M&G Plc acquired a new position in shares of Conagra Brands during the first quarter valued at about $7,429,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Conagra Brands Stock Performance

NYSE:CAG opened at $32.73 on Thursday. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $15.65 billion, a PE ratio of 44.84, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32. The firm has a 50-day moving average price of $30.63 and a 200 day moving average price of $29.96.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data 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 company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s revenue was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. Research analysts anticipate that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.28%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s payout ratio is 191.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Bank of America upped their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Citigroup cut their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Finally, Evercore ISI cut their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $31.10.

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.