Conagra Brands, Inc. (NYSE:CAG) Holdings Lifted by EP Wealth Advisors LLC

EP Wealth Advisors LLC increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 46.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,598 shares of the company’s stock after buying an additional 3,684 shares during the quarter. EP Wealth Advisors LLC’s holdings in Conagra Brands were worth $378,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 1,492.0% during the third quarter. Hexagon Capital Partners LLC now owns 796 shares of the company’s stock valued at $26,000 after purchasing an additional 746 shares during the last quarter. Centerpoint Advisors LLC acquired a new stake in Conagra Brands during the third quarter valued at $33,000. Parkside Financial Bank & Trust boosted its position in Conagra Brands by 38.0% during the third quarter. Parkside Financial Bank & Trust now owns 1,441 shares of the company’s stock valued at $47,000 after purchasing an additional 397 shares during the last quarter. Ossiam acquired a new stake in Conagra Brands during the second quarter valued at $68,000. Finally, Alta Advisers Ltd acquired a new stake in Conagra Brands during the third quarter valued at $69,000. Hedge funds and other institutional investors own 81.08% of the company’s stock.

Insider Activity at Conagra Brands

In related news, SVP Robert G. Wise sold 50,000 shares of the business’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $40.90, for a total transaction of $2,045,000.00. Following the transaction, the senior vice president now directly owns 22,717 shares in the company, valued at $929,125.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Credit Suisse Group lifted their price objective on Conagra Brands from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, January 6th. Bank of America reduced their price target on Conagra Brands to $40.00 in a research report on Monday, March 6th. Stifel Nicolaus reduced their price target on Conagra Brands from $44.00 to $40.00 and set a “hold” rating for the company in a research report on Wednesday, February 22nd. Deutsche Bank Aktiengesellschaft cut Conagra Brands from a “hold” rating to a “sell” rating and boosted their price target for the stock from $33.00 to $34.00 in a research report on Tuesday, December 6th. Finally, Morgan Stanley boosted their price target on Conagra Brands from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $40.64.

Conagra Brands Price Performance

NYSE CAG opened at $35.52 on Friday. Conagra Brands, Inc. has a twelve month low of $31.01 and a twelve month high of $41.30. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.29 and a current ratio of 0.92. The stock has a market capitalization of $16.93 billion, a PE ratio of 25.19, a P/E/G ratio of 2.14 and a beta of 0.55. The stock has a 50-day simple moving average of $37.02 and a 200 day simple moving average of $36.24.

Conagra Brands (NYSE:CAG – Get Rating) last issued its quarterly earnings results on Thursday, January 5th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.15. Conagra Brands had a return on equity of 14.38% and a net margin of 5.66%. The firm had revenue of $3.31 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts anticipate that Conagra Brands, Inc. will post 2.66 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 2nd. Investors of record on Monday, January 30th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, January 27th. This represents a $1.32 annualized dividend and a yield of 3.72%. Conagra Brands’s dividend payout ratio is 93.62%.

Conagra Brands Company Profile

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Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.