Cetera Investment Advisers Raises Stake in Conagra Brands, Inc. (NYSE:CAG)

Cetera Investment Advisers boosted its position in Conagra Brands, Inc. (NYSE:CAG) by 48.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,636 shares of the company’s stock after buying an additional 62,235 shares during the quarter. Cetera Investment Advisers’ holdings in Conagra Brands were worth $5,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAG. Principal Financial Group Inc. lifted its position in Conagra Brands by 0.6% in the third quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock valued at $18,660,000 after purchasing an additional 3,597 shares during the last quarter. Czech National Bank lifted its position in Conagra Brands by 6.0% in the fourth quarter. Czech National Bank now owns 103,483 shares of the company’s stock valued at $2,872,000 after purchasing an additional 5,896 shares during the last quarter. Brookstone Capital Management lifted its position in 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 purchasing an additional 62,187 shares during the last quarter. Wedmont Private Capital bought a new stake in Conagra Brands in the fourth quarter valued at approximately $702,000. Finally, Miracle Mile Advisors LLC lifted its position in Conagra Brands by 9.2% in the fourth quarter. Miracle Mile Advisors LLC now owns 42,952 shares of the company’s stock valued at $1,192,000 after purchasing an additional 3,628 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

CAG opened at $22.80 on Wednesday. The stock has a fifty day simple moving average of $25.33 and a two-hundred day simple moving average of $26.27. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a market cap of $10.88 billion, a price-to-earnings ratio of 22.35, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 12-month low of $22.63 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.69 EPS. Research analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 6.14%. Conagra Brands’s dividend payout ratio (DPR) is 205.88%.

Analyst Ratings Changes

A number of brokerages recently commented on CAG. Morgan Stanley began coverage on Conagra Brands in a report on Monday, March 24th. They set an “equal weight” rating and a $27.00 target price for the company. Barclays decreased their target price on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday. Stifel Nicolaus decreased their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and decreased their target price for the company from $33.00 to $26.00 in a report on Monday, February 24th. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.50.

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.