Allworth Financial LP Grows Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Allworth Financial LP lifted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 35.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,214 shares of the company’s stock after buying an additional 1,375 shares during the quarter. Allworth Financial LP’s holdings in Conagra Brands were worth $132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter worth approximately $28,000. Grove Bank & Trust raised its stake in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands during the fourth quarter worth approximately $44,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Conagra Brands during the third quarter worth approximately $47,000. Finally, Asset Planning Inc purchased a new position in Conagra Brands in the fourth quarter worth $53,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 3.9 %

Shares of CAG stock opened at $25.82 on Monday. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The stock has a market cap of $12.32 billion, a P/E ratio of 25.31, a P/E/G ratio of 1.76 and a beta of 0.28. The business has a fifty day simple moving average of $26.15 and a 200-day simple moving average of $28.52. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.42%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is currently 137.25%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Seven 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 has a consensus rating of “Hold” and a consensus price target of $29.78.

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.