D.A. Davidson & CO. Acquires 30,023 Shares of Conagra Brands, Inc. (NYSE:CAG)

D.A. Davidson & CO. raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 15.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 218,501 shares of the company’s stock after buying an additional 30,023 shares during the quarter. D.A. Davidson & CO.’s holdings in Conagra Brands were worth $6,262,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CAG. Balentine LLC bought a new position in Conagra Brands during the fourth quarter worth $278,000. PNC Financial Services Group Inc. increased its holdings in shares of Conagra Brands by 0.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 215,361 shares of the company’s stock worth $6,172,000 after purchasing an additional 1,306 shares during the period. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Conagra Brands by 74.8% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 21,790 shares of the company’s stock valued at $625,000 after buying an additional 9,322 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of Conagra Brands by 95.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 107,862 shares of the company’s stock valued at $3,091,000 after buying an additional 52,544 shares during the period. Finally, Norges Bank acquired a new stake in Conagra Brands during the fourth quarter worth about $140,473,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $30.79 on Wednesday. The stock has a market capitalization of $14.72 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 3.08 and a beta of 0.38. The firm’s 50-day moving average price is $30.16 and its two-hundred day moving average price is $29.10. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $35.90.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, equities analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.55%. Conagra Brands’s dividend payout ratio is currently 70.35%.

Analysts Set New Price Targets

Several research firms have commented on CAG. Wells Fargo & Company upped their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Citigroup raised their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Stifel Nicolaus boosted their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Finally, Barclays raised their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $33.14.

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.