Sequoia Financial Advisors LLC Buys 5,693 Shares of Conagra Brands, Inc. (NYSE:CAG)

Sequoia Financial Advisors LLC lifted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 46.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,979 shares of the company’s stock after purchasing an additional 5,693 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Conagra Brands were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of CAG. Federated Hermes Inc. boosted its stake in Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Conagra Brands by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock valued at $122,602,000 after purchasing an additional 633,794 shares during the last quarter. Squarepoint Ops LLC raised its stake in Conagra Brands by 148.2% in the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after buying an additional 1,513,726 shares during the period. Marshall Wace LLP increased its stake in shares of Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Conagra Brands by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock worth $65,209,000 after acquiring an additional 78,487 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAG. Stifel Nicolaus reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company raised their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Barclays lowered their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Evercore ISI lowered their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Trading Up 0.3 %

Conagra Brands stock opened at $29.43 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.62 and a fifty-two week high of $33.24. The firm’s fifty day moving average price is $31.06 and its 200-day moving average price is $30.25. The stock has a market cap of $14.05 billion, a P/E ratio of 28.57, a PEG ratio of 3.03 and a beta of 0.32. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the company earned $0.66 earnings per share. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.76%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Insider Activity

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction that occurred 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.

Conagra Brands 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.