LPL Financial LLC Buys 228,202 Shares of Conagra Brands, Inc. (NYSE:CAG)

LPL Financial LLC boosted its stake in Conagra Brands, Inc. (NYSE:CAG) by 20.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,365,652 shares of the company’s stock after acquiring an additional 228,202 shares during the period. LPL Financial LLC owned 0.29% of Conagra Brands worth $38,812,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in Conagra Brands in the second quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new position in Conagra Brands in the second quarter valued at approximately $25,000. Whittier Trust Co. lifted its stake in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after buying an additional 836 shares during the period. LRI Investments LLC acquired a new position in Conagra Brands in the first quarter valued at approximately $42,000. Finally, Security National Bank acquired a new position in Conagra Brands in the fourth quarter valued at approximately $48,000. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CAG shares. Royal Bank of Canada dropped their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Barclays dropped their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Stifel Nicolaus dropped their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Citigroup lowered their target price on 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, Evercore ISI lowered their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.78.

Conagra Brands Trading Up 0.9 %

NYSE CAG opened at $32.05 on Monday. The firm has a market capitalization of $15.35 billion, a P/E ratio of 43.90, a PEG ratio of 2.88 and a beta of 0.32. The business has a fifty day simple moving average of $30.47 and a 200 day simple moving average of $29.89. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $33.24. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88.

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

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were paid a $0.35 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.37%. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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.