Brookstone Capital Management Acquires 306,349 Shares of Conagra Brands, Inc. (NYSE:CAG)

Brookstone Capital Management increased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 912.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 339,927 shares of the company’s stock after buying an additional 306,349 shares during the period. Brookstone Capital Management owned 0.07% of Conagra Brands worth $10,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in Conagra Brands by 188.3% in the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock valued at $4,395,000 after acquiring an additional 100,141 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Conagra Brands by 316.6% during the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after purchasing an additional 117,042 shares during the period. The Manufacturers Life Insurance Company lifted its position in Conagra Brands by 120.3% during the third quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock worth $23,572,000 after purchasing an additional 469,421 shares during the period. Valley Wealth Managers Inc. grew its stake in Conagra Brands by 7.7% during the fourth quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after buying an additional 37,149 shares in the last quarter. Finally, Adams Asset Advisors LLC bought a new position in Conagra Brands in the 4th quarter valued at about $7,690,000. 83.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the transaction, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Stock Performance

NYSE:CAG opened at $28.34 on Friday. The stock’s 50-day moving average is $30.03 and its 200-day moving average is $29.28. The stock has a market cap of $13.55 billion, a P/E ratio of 14.24, a price-to-earnings-growth ratio of 2.77 and a beta of 0.32. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $34.38. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 EPS. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.94%. The ex-dividend date was Monday, April 29th. Conagra Brands’s payout ratio is presently 70.35%.

Analyst Ratings Changes

Several analysts recently issued reports on CAG shares. Citigroup increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Barclays boosted their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $33.14.

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.