Cerity Partners LLC Increases Position in Conagra Brands, Inc. (NYSE:CAG)

Cerity Partners LLC lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 6.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 397,297 shares of the company’s stock after buying an additional 24,103 shares during the period. Cerity Partners LLC owned approximately 0.08% of Conagra Brands worth $12,920,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CAG. Chilton Capital Management LLC purchased a new stake in Conagra Brands in the second quarter worth $25,000. Innealta Capital LLC purchased a new stake in Conagra Brands in the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC raised its stake in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares during the period. LRI Investments LLC purchased a new stake in Conagra Brands during the first quarter valued at about $42,000. Finally, Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the third quarter worth about $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $27.46 on Tuesday. The stock’s 50-day simple moving average is $29.57 and its two-hundred day simple moving average is $29.88. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The firm has a market capitalization of $13.11 billion, a P/E ratio of 26.66, a P/E/G ratio of 2.82 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.10%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CAG shares. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company raised their price target on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Bank of America decreased their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Company 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.