Golden State Wealth Management LLC Acquires 741 Shares of Conagra Brands (NYSE:CAG)

Golden State Wealth Management LLC grew its holdings in shares of Conagra Brands (NYSE:CAG) by 235.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,056 shares of the company’s stock after acquiring an additional 741 shares during the period. Golden State Wealth Management LLC’s holdings in Conagra Brands were worth $28,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its stake in shares of Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 452 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Conagra Brands during the fourth quarter valued at $41,000. AdvisorNet Financial Inc raised its stake in shares of Conagra Brands by 86.1% during the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company’s stock valued at $40,000 after acquiring an additional 690 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Conagra Brands during the fourth quarter valued at $53,000. Finally, Inlight Wealth Management LLC bought a new position in shares of Conagra Brands during the first quarter valued at $67,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.7%

CAG opened at $21.00 on Friday. Conagra Brands has a 1-year low of $20.26 and a 1-year high of $33.24. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.71. The company has a market cap of $10.02 billion, a P/E ratio of 30.88, a price-to-earnings-growth ratio of 1.57 and a beta of 0.11. The company has a fifty day moving average price of $22.44 and a two-hundred day moving average price of $24.77.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on CAG. Barclays lowered their target price on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. Morgan Stanley lowered their target price on shares of Conagra Brands from $27.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday. Bank of America downgraded shares of Conagra Brands from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $27.00 to $20.00 in a research note on Thursday, June 12th. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company lowered their target price on shares of Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $24.82.

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.