Professional Financial Advisors LLC Raises Position in Conagra Brands, Inc. (NYSE:CAG)

Professional Financial Advisors LLC raised its position in Conagra Brands, Inc. (NYSE:CAG) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,558 shares of the company’s stock after acquiring an additional 2,488 shares during the quarter. Professional Financial Advisors LLC’s holdings in Conagra Brands were worth $1,209,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Conagra Brands during the third quarter valued at approximately $47,000. Kennebec Savings Bank bought a new position in shares of Conagra Brands in the third quarter worth $59,000. Quarry LP lifted its holdings in Conagra Brands by 229.7% in the third quarter. Quarry LP now owns 1,820 shares of the company’s stock worth $59,000 after purchasing an additional 1,268 shares during the period. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Conagra Brands by 27,057.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,901 shares of the company’s stock valued at $62,000 after acquiring an additional 1,894 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Bank of America cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Barclays cut their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Wells Fargo & Company lowered their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Citigroup lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $30.56.

Conagra Brands Price Performance

Shares of CAG stock opened at $26.31 on Tuesday. 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 12-month low of $25.85 and a 12-month high of $33.24. The firm has a fifty day moving average of $27.48 and a 200-day moving average of $29.32. The firm has a market capitalization of $12.56 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29.

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

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.32%. Conagra Brands’s payout ratio is 137.25%.

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.