Allworth Financial LP Boosts Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Allworth Financial LP increased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 35.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,214 shares of the company’s stock after acquiring an additional 1,375 shares during the period. Allworth Financial LP’s holdings in Conagra Brands were worth $132,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Empirical Finance LLC grew its position in Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after acquiring an additional 362 shares during the period. Arkadios Wealth Advisors lifted its stake in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after purchasing an additional 376 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after purchasing an additional 376 shares in the last quarter. Grove Bank & Trust lifted its stake in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares in the last quarter. Finally, International Private Wealth Advisors LLC lifted its stake in Conagra Brands by 5.2% during the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock worth $295,000 after purchasing an additional 527 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 3.9 %

Conagra Brands stock opened at $25.82 on Monday. The stock has a market cap of $12.32 billion, a PE ratio of 25.31, a P/E/G ratio of 1.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The stock’s fifty day moving average is $26.15 and its two-hundred day moving average is $28.52. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. On average, sell-side analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Barclays reduced their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.78.

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.