Farther Finance Advisors LLC Purchases 5,157 Shares of Conagra Brands (NYSE:CAG)

Farther Finance Advisors LLC boosted its holdings in shares of Conagra Brands (NYSE:CAG) by 106.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,003 shares of the company’s stock after purchasing an additional 5,157 shares during the period. Farther Finance Advisors LLC’s holdings in Conagra Brands were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CAG. Norges Bank bought a new position in shares of Conagra Brands in the 4th quarter worth approximately $168,877,000. Massachusetts Financial Services Co. MA bought a new position in shares of Conagra Brands in the 4th quarter worth approximately $110,704,000. Two Sigma Advisers LP raised its position in shares of Conagra Brands by 33.9% in the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company’s stock worth $225,746,000 after acquiring an additional 2,058,000 shares in the last quarter. Deutsche Bank AG raised its position in shares of Conagra Brands by 51.6% in the 4th quarter. Deutsche Bank AG now owns 5,664,293 shares of the company’s stock worth $157,184,000 after acquiring an additional 1,928,883 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Conagra Brands by 18.5% in the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company’s stock worth $309,728,000 after acquiring an additional 1,745,319 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CAG shares. UBS Group started coverage on Conagra Brands in a research report on Monday. They issued a “neutral” rating and a $22.00 target price for the company. Bank of America lowered Conagra Brands from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Stifel Nicolaus reduced 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. Barclays reduced their price objective on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus target price of $25.36.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $21.49 on Thursday. Conagra Brands has a one year low of $21.18 and a one year high of $33.24. The stock’s fifty day moving average is $23.42 and its 200 day moving average is $25.28. The stock has a market cap of $10.26 billion, a P/E ratio of 31.60, a P/E/G ratio of 1.58 and a beta of 0.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.23 and a current ratio of 0.69.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Conagra Brands’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 6.52%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands’s dividend payout ratio is 205.88%.

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.