Proficio Capital Partners LLC Purchases Shares of 73,343 Conagra Brands, Inc. (NYSE:CAG)

Proficio Capital Partners LLC acquired a new position in Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 73,343 shares of the company’s stock, valued at approximately $2,035,000.

Several other institutional investors also recently modified their holdings of CAG. State Street Corp raised its stake in shares of Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after purchasing an additional 1,691,945 shares in the last quarter. Nordea Investment Management AB increased its holdings in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after buying an additional 618,096 shares during the period. Geode Capital Management LLC raised its stake in shares of Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after buying an additional 196,100 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Conagra Brands by 2.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after acquiring an additional 122,590 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.3 %

Shares of CAG opened at $25.39 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market cap of $12.12 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 1.76 and a beta of 0.28. The stock has a fifty day moving average price of $25.90 and a two-hundred day moving average price of $28.29. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24.

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

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Monday, January 27th were given a dividend of $0.35 per share. The ex-dividend date was Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.52%. Conagra Brands’s payout ratio is 137.25%.

Analysts Set New Price Targets

CAG has been the subject of several recent research reports. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company lowered their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Finally, The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and cut their price objective for the company from $33.00 to $26.00 in a report on Monday, February 24th. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.67.

About Conagra Brands

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.