SL Advisors LLC Invests $95,000 in Conagra Brands, Inc. (NYSE:CAG)

SL Advisors LLC purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,920 shares of the company’s stock, valued at approximately $95,000.

Other hedge funds also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in Conagra Brands by 7.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock worth $155,000 after purchasing an additional 373 shares in the last quarter. Czech National Bank lifted its holdings in shares of Conagra Brands by 0.5% in the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after buying an additional 392 shares in the last quarter. Summit Financial Wealth Advisors LLC boosted its position in shares of Conagra Brands by 1.1% during the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after acquiring an additional 430 shares during the last quarter. Courier Capital LLC grew its stake in Conagra Brands by 1.7% during the second quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock valued at $759,000 after acquiring an additional 438 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Conagra Brands by 4.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after acquiring an additional 445 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

CAG has been the topic of several research reports. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Evercore ISI decreased their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus lowered their target price 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 began coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Finally, Barclays lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $31.33.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’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 sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Price Performance

Shares of CAG stock opened at $29.20 on Wednesday. The stock has a 50 day moving average price of $31.23 and a 200 day moving average price of $30.29. Conagra Brands, Inc. has a 52-week low of $26.42 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm has a market capitalization of $13.96 billion, a P/E ratio of 40.00, a P/E/G ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.66 earnings per share. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is 191.78%.

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.