J.W. Cole Advisors Inc. Invests $209,000 in Conagra Brands, Inc. (NYSE:CAG)

J.W. Cole Advisors Inc. purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 6,418 shares of the company’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth about $25,000. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC increased its position 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 worth $30,000 after purchasing an additional 420 shares during the last quarter. Whittier Trust Co. increased its position in shares of Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $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 about $42,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAG has been the subject of a number of recent analyst reports. Stifel Nicolaus cut 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. The Goldman Sachs Group started coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Evercore ISI dropped their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six equities research 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.63.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 in the company, valued at $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $28.97 on Friday. Conagra Brands, Inc. has a one year low of $26.62 and a one year high of $33.24. The company has a market cap of $13.83 billion, a PE ratio of 28.13, a P/E/G ratio of 3.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The business has a 50-day simple moving average of $30.92 and a 200-day simple moving average of $30.23.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS 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 company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 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.