OneDigital Investment Advisors LLC Makes New $224,000 Investment in Conagra Brands, Inc. (NYSE:CAG)

OneDigital Investment Advisors LLC purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 6,892 shares of the company’s stock, valued at approximately $224,000.

Other large investors also recently modified their holdings of the company. Federated Hermes Inc. boosted its stake in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after acquiring an additional 1,871,238 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Conagra Brands by 17.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after purchasing an additional 633,794 shares in the last quarter. Squarepoint Ops LLC grew its stake in shares of Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after buying an additional 1,513,726 shares during the period. Marshall Wace LLP increased its position in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after buying an additional 2,242,186 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Conagra Brands by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock worth $65,209,000 after buying an additional 78,487 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 1.0 %

Conagra Brands stock opened at $27.43 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. 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 firm’s 50-day simple moving average is $29.67 and its 200 day simple moving average is $29.91. The stock has a market cap of $13.09 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 2.73 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 EPS. Research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CAG. The Goldman Sachs Group initiated coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Wells Fargo & Company raised their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report 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 given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.63.

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.