Kestra Investment Management LLC Invests $848,000 in Conagra Brands, Inc. (NYSE:CAG)

Kestra Investment Management LLC purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 26,084 shares of the company’s stock, valued at approximately $848,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Courier Capital LLC grew its holdings in shares of Conagra Brands by 1.3% in the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock valued at $880,000 after buying an additional 355 shares during the period. CWM LLC lifted its holdings in Conagra Brands by 0.4% during the third quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after acquiring an additional 359 shares in the last quarter. Empirical Finance LLC grew its stake in Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after acquiring an additional 362 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Conagra Brands by 0.7% in the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after acquiring an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. raised its position in shares of Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after purchasing an additional 376 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CAG has been the subject of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America reduced their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Six equities 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. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Performance

Shares of CAG stock opened at $27.55 on Monday. The company has a fifty day moving average price of $29.17 and a two-hundred day moving average price of $29.78. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. The stock has a market cap of $13.15 billion, a P/E ratio of 26.75, a P/E/G ratio of 2.84 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

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 analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the business posted $0.66 earnings per share. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 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.