Conagra Brands, Inc. (NYSE:CAG) Position Raised by Wealth Alliance

Wealth Alliance increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 22.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,679 shares of the company’s stock after purchasing an additional 7,949 shares during the period. Wealth Alliance’s holdings in Conagra Brands were worth $1,213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. Innealta Capital LLC acquired a new position in Conagra Brands in the second quarter worth approximately $25,000. Chilton Capital Management LLC acquired a new position in Conagra Brands in the second quarter worth approximately $25,000. Whittier Trust Co. grew its position in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after buying an additional 836 shares during the last quarter. LRI Investments LLC acquired a new position in Conagra Brands in the first quarter worth approximately $42,000. Finally, Security National Bank acquired a new position in Conagra Brands in the fourth quarter worth approximately $48,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.5 %

Shares of NYSE:CAG opened at $32.73 on Thursday. The firm has a fifty day moving average of $30.63 and a two-hundred day moving average of $29.96. The firm has a market capitalization of $15.65 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. On average, equities analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is currently 191.78%.

Insider Buying and Selling at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction 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 completion of the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

CAG has been the topic of several recent research reports. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI decreased their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Citigroup lowered their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Finally, Bank of America lifted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $31.10.

About Conagra Brands

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.