WealthPlan Investment Management LLC Buys Shares of 9,114 Conagra Brands, Inc. (NYSE:CAG)

WealthPlan Investment Management LLC bought a new position in Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,114 shares of the company’s stock, valued at approximately $296,000.

Other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. grew its position in Conagra Brands by 237.9% during the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after purchasing an additional 54,195 shares during the last quarter. M&G Plc purchased a new position in Conagra Brands in the 1st quarter worth approximately $7,429,000. UniSuper Management Pty Ltd lifted its position in Conagra Brands by 573.4% in the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock valued at $1,128,000 after acquiring an additional 32,396 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Conagra Brands during the 3rd quarter valued at $3,829,000. Finally, Swedbank AB bought a new stake in shares of Conagra Brands in the 1st quarter worth $18,268,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Bank of America dropped their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price target on the stock. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Down 0.2 %

CAG opened at $27.68 on Wednesday. The firm’s 50 day simple moving average is $30.51 and its two-hundred day simple moving average is $30.10. The company has a market capitalization of $13.21 billion, a PE ratio of 26.87, a PEG ratio of 2.86 and a beta of 0.34. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. As a group, equities analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.06%. Conagra Brands’s payout ratio is currently 135.92%.

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.