Frank Rimerman Advisors LLC Purchases New Shares in Conagra Brands, Inc. (NYSE:CAG)

Frank Rimerman Advisors LLC acquired a new position in Conagra Brands, Inc. (NYSE:CAG) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 11,029 shares of the company’s stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Conagra Brands by 7.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock worth $155,000 after acquiring an additional 373 shares in the last quarter. Czech National Bank increased its holdings in Conagra Brands by 0.5% during the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after purchasing an additional 392 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its holdings in Conagra Brands by 1.1% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after purchasing an additional 430 shares during the last quarter. Courier Capital LLC raised its position in shares of Conagra Brands by 1.7% in the 2nd quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock valued at $759,000 after purchasing an additional 438 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in shares of Conagra Brands by 4.1% during the 1st quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after buying an additional 445 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands 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 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by company insiders.

Conagra Brands Stock Up 0.1 %

NYSE:CAG opened at $32.33 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average of $31.01 and a 200-day moving average of $30.12. The firm has a market capitalization of $15.46 billion, a PE ratio of 44.29, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. Analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 annualized dividend and a yield of 4.33%. Conagra Brands’s dividend payout ratio is presently 191.78%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus cut their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Barclays reduced their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Bank of America boosted their price objective on Conagra Brands from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Finally, Evercore ISI reduced their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $31.10.

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.