Secure Asset Management LLC Has $1.36 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Secure Asset Management LLC increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,869 shares of the company’s stock after acquiring an additional 1,234 shares during the quarter. Secure Asset Management LLC’s holdings in Conagra Brands were worth $1,360,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First United Bank & Trust bought a new position in shares of Conagra Brands during the fourth quarter worth approximately $26,000. Advantage Trust Co bought a new position in Conagra Brands during the 4th quarter worth $34,000. Parkside Financial Bank & Trust increased its stake in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after acquiring an additional 454 shares during the period. Whittier Trust Co. raised its holdings in Conagra Brands by 144.4% in the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after acquiring an additional 836 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of Conagra Brands during the 1st quarter valued at $42,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.5 %

Shares of NYSE CAG traded up $0.15 during trading on Friday, reaching $30.63. The company had a trading volume of 5,976,104 shares, compared to its average volume of 4,676,615. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $31.82. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The stock has a market cap of $14.64 billion, a P/E ratio of 41.96, a PEG ratio of 2.65 and a beta of 0.32. The company’s fifty day moving average price is $29.43 and its 200-day moving average price is $29.43.

Conagra Brands (NYSE:CAG) last released its earnings results 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 business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. As a group, research analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

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

Insider Buying and Selling at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CAG. Royal Bank of Canada decreased their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Barclays cut their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Citigroup decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Finally, Evercore ISI cut their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.90.

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.