Miracle Mile Advisors LLC Increases Stake in Conagra Brands, Inc. (NYSE:CAG)

Miracle Mile Advisors LLC boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,952 shares of the company’s stock after acquiring an additional 3,628 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Conagra Brands were worth $1,192,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC raised its position in Conagra Brands by 110.8% during the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after acquiring an additional 19,329 shares in the last quarter. Brookstone Capital Management increased its position in shares of Conagra Brands by 18.4% in the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after buying an additional 62,187 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after buying an additional 618,096 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Conagra Brands in the third quarter valued at approximately $1,020,000. Finally, Pacer Advisors Inc. increased its position in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 0.8 %

Shares of NYSE CAG opened at $26.06 on Wednesday. The stock has a market cap of $12.44 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 52-week low of $25.85 and a 52-week high of $33.24. The business has a 50-day moving average price of $27.48 and a 200 day moving average price of $29.32.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 EPS. Equities research analysts forecast that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.37%. Conagra Brands’s payout ratio is 137.25%.

Wall Street Analyst Weigh In

Several analysts recently commented on CAG shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Wells Fargo & Company dropped their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Barclays lowered their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.56.

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.