Hohimer Wealth Management LLC Raises Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Hohimer Wealth Management LLC lifted its stake in Conagra Brands, Inc. (NYSE:CAG) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,073 shares of the company’s stock after purchasing an additional 642 shares during the period. Hohimer Wealth Management LLC’s holdings in Conagra Brands were worth $4,360,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. State Street Corp lifted its holdings in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares during the period. Geode Capital Management LLC raised its position in shares of Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after acquiring an additional 196,100 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the period. Pacer Advisors Inc. boosted its position in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in Conagra Brands by 2.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after purchasing an additional 122,590 shares during the period. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on CAG shares. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America cut their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Up 0.3 %

NYSE:CAG opened at $27.84 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The firm has a market cap of $13.28 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.80 and a beta of 0.31. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The firm has a 50-day simple moving average of $28.50 and a two-hundred day simple moving average of $29.63.

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

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands’s payout ratio is currently 135.92%.

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.