1832 Asset Management L.P. Acquires 844 Shares of Conagra Brands, Inc. (NYSE:CAG)

1832 Asset Management L.P. raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.3% in the 1st quarter, HoldingsChannel reports. The firm owned 63,584 shares of the company’s stock after buying an additional 844 shares during the period. 1832 Asset Management L.P.’s holdings in Conagra Brands were worth $1,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its stake in Conagra Brands by 7.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock valued at $155,000 after buying an additional 373 shares during the last quarter. Czech National Bank increased its position in Conagra Brands by 0.5% during the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after buying an additional 392 shares during the period. Kingsview Wealth Management LLC increased its position in Conagra Brands by 5.4% during the 4th quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock worth $226,000 after buying an additional 403 shares during the period. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Conagra Brands by 1.1% during the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after buying an additional 430 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its position in shares of Conagra Brands by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after acquiring an additional 445 shares during the period. 83.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAG shares. Citigroup lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Barclays dropped their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company lowered their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Royal Bank of Canada lowered their price objective on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.18.

Insider Activity

In related news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares in the company, valued at approximately $3,439,523.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Price Performance

Shares of CAG traded up $0.41 during midday trading on Friday, reaching $29.94. The stock had a trading volume of 3,518,765 shares, compared to its average volume of 4,617,913. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 41.01, a price-to-earnings-growth ratio of 2.62 and a beta of 0.32. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $33.39. The company’s 50-day moving average is $29.21 and its 200 day moving average is $29.27.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. On average, equities analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be paid a $0.35 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.68%. Conagra Brands’s dividend payout ratio is currently 191.78%.

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.