Wealth Alliance Buys 1,352 Shares of Conagra Brands, Inc. (NYSE:CAG)

Wealth Alliance increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,866 shares of the company’s stock after buying an additional 1,352 shares during the period. Wealth Alliance’s holdings in Conagra Brands were worth $827,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in Conagra Brands by 188.3% during the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after buying an additional 100,141 shares during the period. The Manufacturers Life Insurance Company boosted its position in Conagra Brands by 120.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock worth $23,572,000 after buying an additional 469,421 shares during the period. Adams Asset Advisors LLC acquired a new stake in Conagra Brands during the 4th quarter worth approximately $7,690,000. Assenagon Asset Management S.A. boosted its position in Conagra Brands by 368.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,016,249 shares of the company’s stock worth $29,126,000 after buying an additional 799,175 shares during the period. Finally, Invesco Ltd. boosted its position in Conagra Brands by 37.1% during the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after buying an additional 2,619,372 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 0.8 %

Conagra Brands stock opened at $30.00 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $38.73. The firm’s fifty day moving average is $28.68 and its 200 day moving average is $28.46. The company has a market capitalization of $14.34 billion, a PE ratio of 15.08, a PEG ratio of 2.99 and a beta of 0.42.

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

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.67%. Conagra Brands’s dividend payout ratio (DPR) is presently 70.35%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup lifted their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. 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 report on Friday, April 5th. Barclays boosted their price target 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. Stifel Nicolaus boosted their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada dropped their price target 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.14.

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.