Wealthcare Advisory Partners LLC Buys New Stake in Conagra Brands Inc. (CAG)

Wealthcare Advisory Partners LLC bought a new stake in Conagra Brands Inc. (NYSE:CAG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,229 shares of the company’s stock, valued at approximately $952,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Paradigm Asset Management Co. LLC increased its holdings in Conagra Brands by 7.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 100,470 shares of the company’s stock worth $3,593,000 after purchasing an additional 7,000 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in Conagra Brands by 1.2% during the 2nd quarter. State of Tennessee Treasury Department now owns 1,360,161 shares of the company’s stock worth $48,640,000 after purchasing an additional 16,143 shares in the last quarter. Alethea Capital Management LLC bought a new stake in Conagra Brands during the 2nd quarter worth approximately $3,610,000. Sciencast Management LP bought a new stake in Conagra Brands during the 2nd quarter worth approximately $1,262,000. Finally, Victory Capital Management Inc. increased its holdings in Conagra Brands by 482.0% during the 3rd quarter. Victory Capital Management Inc. now owns 289,392 shares of the company’s stock worth $9,764,000 after purchasing an additional 239,667 shares in the last quarter. 79.03% of the stock is owned by hedge funds and other institutional investors.

Shares of Conagra Brands Inc. (CAG) opened at $37.55 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. Conagra Brands Inc. has a 1-year low of $32.16 and a 1-year high of $41.68. The stock has a market cap of $15,212.47, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 2.81 and a beta of 0.37.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. equities research analysts forecast that Conagra Brands Inc. will post 1.89 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, January 30th will be issued a dividend of $0.213 per share. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. This represents a $0.85 dividend on an annualized basis and a yield of 2.27%. Conagra Brands’s payout ratio is presently 60.28%.

In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $34.28, for a total transaction of $4,589,029.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.

CAG has been the topic of a number of research analyst reports. BidaskClub downgraded Conagra Brands from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Royal Bank of Canada restated a “buy” rating and issued a $45.00 target price on shares of Conagra Brands in a research note on Friday, September 29th. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Jefferies Group restated a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. Finally, Credit Suisse Group dropped their price objective on Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, September 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Conagra Brands presently has an average rating of “Buy” and a consensus price target of $40.37.

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Conagra Brands Profile

Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.

Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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