Avidian Wealth Solutions LLC Purchases New Shares in Conagra Brands, Inc. (NYSE:CAG)

Avidian Wealth Solutions LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,064 shares of the company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. boosted its stake in shares of Conagra Brands by 14.0% during the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after purchasing an additional 1,737,380 shares during the period. Invesco Ltd. lifted its holdings in Conagra Brands by 37.1% during the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after buying an additional 2,619,372 shares in the last quarter. Federated Hermes Inc. boosted its position in Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after buying an additional 1,330,249 shares during the period. Northern Trust Corp boosted its position in Conagra Brands by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock valued at $164,585,000 after buying an additional 220,024 shares during the period. Finally, Barclays PLC grew its stake in Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after acquiring an additional 1,614,986 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAG has been the subject of several research analyst reports. Barclays lifted their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Citigroup increased their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Stifel Nicolaus lifted their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.14.

Conagra Brands Stock Performance

CAG stock opened at $30.19 on Tuesday. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.04. The firm has a market cap of $14.43 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 3.07 and a beta of 0.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The firm has a 50-day simple moving average of $29.54 and a two-hundred day simple moving average of $28.83.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. Conagra Brands’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.64%. Conagra Brands’s payout ratio is 70.35%.

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.