PFG Investments LLC Buys Shares of 13,100 Conagra Brands, Inc. (NYSE:CAG)

PFG Investments LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,100 shares of the company’s stock, valued at approximately $388,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Czech National Bank raised its holdings in shares of Conagra Brands by 0.5% in the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after purchasing an additional 392 shares during the period. Pinnacle Associates Ltd. lifted its holdings in shares of Conagra Brands by 1.4% in the third quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock worth $781,000 after buying an additional 393 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Conagra Brands by 5.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock valued at $226,000 after acquiring an additional 403 shares during the period. HM Payson & Co. grew its stake in Conagra Brands by 18.1% during the third quarter. HM Payson & Co. now owns 2,864 shares of the company’s stock valued at $79,000 after acquiring an additional 439 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings 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. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.5 %

Conagra Brands stock traded down $0.16 during midday trading on Tuesday, hitting $30.78. 6,131,311 shares of the company’s stock were exchanged, compared to its average volume of 5,083,047. The company has a market cap of $14.71 billion, a PE ratio of 15.47, a P/E/G ratio of 3.12 and a beta of 0.41. The firm has a 50-day moving average of $29.31 and a two-hundred day moving average of $28.72. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $38.73.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.76 earnings per share. As a group, analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio is currently 70.35%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CAG shares. Barclays upped their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Citigroup raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Stifel Nicolaus increased their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.14.

About Conagra Brands

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.