Kestra Investment Management LLC Takes $848,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Kestra Investment Management LLC purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 26,084 shares of the company’s stock, valued at approximately $848,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands in the second quarter valued at about $25,000. Innealta Capital LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC increased its holdings in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the third quarter valued at approximately $47,000. Finally, Kennebec Savings Bank bought a new stake in shares of Conagra Brands in the third quarter valued at approximately $59,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Up 0.4 %

Shares of Conagra Brands stock opened at $27.55 on Monday. The firm has a market capitalization of $13.15 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 2.84 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $29.17 and its 200 day moving average is $29.78. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the company posted $0.66 earnings per share. The firm’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Bank of America lowered 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. 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 research report on Thursday, October 17th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.