Chicago Partners Investment Group LLC Increases Holdings in Conagra Brands, Inc. (NYSE:CAG)

Chicago Partners Investment Group LLC increased its stake in Conagra Brands, Inc. (NYSE:CAG) by 15.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,850 shares of the company’s stock after acquiring an additional 1,207 shares during the period. Chicago Partners Investment Group LLC’s holdings in Conagra Brands were worth $288,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares during the period. Federated Hermes Inc. increased its position in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after acquiring an additional 1,871,238 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Conagra Brands by 148.2% in the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after acquiring an additional 1,513,726 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Conagra Brands by 2,552.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after acquiring an additional 1,241,121 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its stake in shares of Conagra Brands by 523.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after purchasing an additional 1,214,859 shares during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

CAG stock opened at $29.08 on Wednesday. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24. The business has a 50-day moving average price of $30.87 and a 200 day moving average price of $30.22. The company has a market capitalization of $13.88 billion, a P/E ratio of 28.23, a PEG ratio of 2.98 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 (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). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm posted $0.66 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.81%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAG. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Stifel Nicolaus reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.63.

Insider Activity

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.51% of the company’s stock.

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.