Premier Path Wealth Partners LLC Grows Stake in Conagra Brands, Inc. (NYSE:CAG)

Premier Path Wealth Partners LLC lifted its stake in Conagra Brands, Inc. (NYSE:CAG) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,365 shares of the company’s stock after purchasing an additional 692 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Conagra Brands were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Secure Asset Management LLC raised its holdings in Conagra Brands by 2.6% in the second quarter. Secure Asset Management LLC now owns 47,869 shares of the company’s stock worth $1,360,000 after buying an additional 1,234 shares during the last quarter. &PARTNERS bought a new stake in shares of Conagra Brands during the second quarter valued at approximately $319,000. Courier Capital LLC raised its holdings in Conagra Brands by 1.7% in the 2nd quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock worth $759,000 after acquiring an additional 438 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in Conagra Brands by 1.8% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 28,532 shares of the company’s stock valued at $811,000 after acquiring an additional 513 shares in the last quarter. Finally, Aaron Wealth Advisors LLC purchased a new stake in Conagra Brands during the 2nd quarter valued at $212,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE CAG traded up $0.15 during midday trading on Friday, hitting $30.63. 5,976,104 shares of the company’s stock traded hands, compared to its average volume of 4,676,615. The firm has a fifty day moving average of $29.43 and a 200 day moving average of $29.43. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $31.82. 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 stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last announced its 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. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. On average, analysts forecast that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 1st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.57%. Conagra Brands’s dividend payout ratio is currently 191.78%.

Analyst Ratings Changes

A number of analysts have commented on CAG shares. Royal Bank of Canada reduced their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Stifel Nicolaus reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. Evercore ISI lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Citigroup dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.90.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.88% of the stock is owned by company insiders.

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.