Advisors Asset Management Inc. Raises Position in Conagra Brands, Inc. (NYSE:CAG)

Advisors Asset Management Inc. increased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 45.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 143,052 shares of the company’s stock after purchasing an additional 44,477 shares during the quarter. Advisors Asset Management Inc.’s holdings in Conagra Brands were worth $4,652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CAG. Innealta Capital LLC bought a new stake in Conagra Brands in the 2nd quarter worth $25,000. Chilton Capital Management LLC bought a new stake in Conagra Brands in the 2nd quarter worth $25,000. Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the last quarter. LRI Investments LLC bought a new stake in Conagra Brands in the 1st quarter worth $42,000. Finally, Abich Financial Wealth Management LLC bought a new stake in Conagra Brands in the 3rd quarter worth $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

CAG has been the topic of a number of research reports. Bank of America cut their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $27.12 on Friday. The firm’s 50 day moving average price is $29.77 and its 200-day moving average price is $29.93. The company has a market cap of $12.94 billion, a PE ratio of 26.33, a P/E/G ratio of 2.73 and a beta of 0.34. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

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

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.16%. Conagra Brands’s dividend payout ratio is presently 135.92%.

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.