JustInvest LLC Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

JustInvest LLC raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 28.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,296 shares of the company’s stock after purchasing an additional 2,521 shares during the quarter. JustInvest LLC’s holdings in Conagra Brands were worth $383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AGF Investments LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at $34,000. Strategic Blueprint LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at $37,000. Ellevest Inc. grew its stake in shares of Conagra Brands by 161.2% in the third quarter. Ellevest Inc. now owns 1,097 shares of the company’s stock valued at $37,000 after buying an additional 677 shares in the last quarter. Mark Sheptoff Financial Planning LLC grew its stake in shares of Conagra Brands by 37.5% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,100 shares of the company’s stock valued at $40,000 after buying an additional 300 shares in the last quarter. Finally, CVA Family Office LLC grew its stake in shares of Conagra Brands by 177.3% in the third quarter. CVA Family Office LLC now owns 1,345 shares of the company’s stock valued at $48,000 after buying an additional 860 shares in the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CAG opened at $35.11 on Friday. The company has a market capitalization of $16.84 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 2.01 and a beta of 0.85. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.93 and a quick ratio of 0.36. The business has a 50-day moving average of $32.75 and a two-hundred day moving average of $33.41. Conagra Brands, Inc. has a 1 year low of $30.44 and a 1 year high of $39.09.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, January 6th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.04). Conagra Brands had a net margin of 9.82% and a return on equity of 12.75%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 2nd. Stockholders of record on Monday, January 31st will be issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Friday, January 28th. Conagra Brands’s payout ratio is currently 54.82%.

CAG has been the subject of several analyst reports. Credit Suisse Group raised Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 target price for the company in a research note on Wednesday, September 29th. UBS Group cut Conagra Brands from a “buy” rating to a “sell” rating in a research note on Friday, October 8th. Royal Bank of Canada reissued a “hold” rating and set a $38.00 target price on shares of Conagra Brands in a research note on Friday, October 8th. JPMorgan Chase & Co. cut Conagra Brands from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $41.00 to $38.00 in a research note on Friday, October 8th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their target price on Conagra Brands from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, January 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $36.78.

Conagra Brands Company Profile

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

Featured Story: What’s a Black Swan?

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands, Inc. (NYSE:CAG).

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

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.