Conagra Brands (NYSE:CAG) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Conagra Brands (NYSE:CAG) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,378,340 shares of the company’s stock after buying an additional 138,756 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Conagra Brands were worth $90,100,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CAG. Alpine Bank Wealth Management acquired a new position in Conagra Brands during the first quarter worth approximately $26,000. Capital Advisors Ltd. LLC increased its position in Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock worth $27,000 after buying an additional 452 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new position in Conagra Brands during the first quarter worth approximately $27,000. Golden State Wealth Management LLC increased its holdings in shares of Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after purchasing an additional 741 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Conagra Brands in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 1.3%

Shares of NYSE:CAG opened at $19.53 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a 52-week low of $18.18 and a 52-week high of $33.24. The stock’s fifty day simple moving average is $20.29 and its 200-day simple moving average is $23.31. The company has a market capitalization of $9.35 billion, a P/E ratio of 8.17, a P/E/G ratio of 1.84 and a beta of 0.08.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.05). The business had revenue of $2,781,800 billion during the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. As a group, equities research analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.2%. Conagra Brands’s dividend payout ratio (DPR) is 58.58%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CAG shares. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. The Goldman Sachs Group lowered Conagra Brands from a “neutral” rating to a “sell” rating and dropped their target price for the company from $26.00 to $21.00 in a report on Monday, June 9th. Barclays dropped their target price on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 12th. Wells Fargo & Company dropped their target price on Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 9th. Finally, Morgan Stanley dropped their target price on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Friday, July 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $22.58.

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.