Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Raymond James & Associates

Raymond James & Associates raised its position in Conagra Brands, Inc. (NYSE:CAG) by 26.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,497,014 shares of the company’s stock after purchasing an additional 310,386 shares during the period. Raymond James & Associates owned 0.31% of Conagra Brands worth $44,371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAG. First United Bank & Trust purchased a new position in shares of Conagra Brands in the fourth quarter worth about $26,000. Naples Money Management LLC purchased a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $26,000. Thompson Investment Management Inc. increased its holdings in shares of Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the last quarter. Authentikos Wealth Advisory LLC purchased a new position in Conagra Brands during the third quarter worth approximately $33,000. Finally, Advantage Trust Co purchased a new stake in Conagra Brands in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.8 %

NYSE:CAG traded down $0.26 on Friday, reaching $30.59. 4,112,423 shares of the company’s stock were exchanged, compared to its average volume of 5,140,211. The business has a fifty day moving average of $29.50 and a 200-day moving average of $28.79. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $38.20. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 3.10 and a beta of 0.38.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business earned $0.76 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Monday, April 29th. Conagra Brands’s payout ratio is presently 70.35%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Barclays increased their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Citigroup lifted their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Wells Fargo & Company raised their target price on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $33.14.

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.