Wealth Alliance Has $827,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Wealth Alliance increased its position in Conagra Brands, Inc. (NYSE:CAG) by 4.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,866 shares of the company’s stock after purchasing an additional 1,352 shares during the period. Wealth Alliance’s holdings in Conagra Brands were worth $827,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. Riverview Trust Co boosted its stake in Conagra Brands by 132.8% in the 3rd quarter. Riverview Trust Co now owns 945 shares of the company’s stock worth $26,000 after purchasing an additional 539 shares during the period. Thompson Investment Management Inc. boosted its stake in Conagra Brands by 100.0% in the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Authentikos Wealth Advisory LLC acquired a new position in Conagra Brands in the 3rd quarter worth approximately $33,000. Clear Street Markets LLC boosted its stake in Conagra Brands by 93.2% in the 1st quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock worth $35,000 after purchasing an additional 451 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new position in Conagra Brands in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.8 %

Conagra Brands stock opened at $30.00 on Wednesday. The company has a market capitalization of $14.34 billion, a P/E ratio of 15.08, a P/E/G ratio of 2.99 and a beta of 0.42. The firm’s fifty day simple moving average is $28.68 and its 200-day simple moving average is $28.46. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $38.73.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the business posted $0.76 EPS. Conagra Brands’s revenue was down 1.7% compared to the same quarter last year. Sell-side analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.67%. Conagra Brands’s payout ratio is presently 70.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada cut their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 3rd. Barclays increased their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Citigroup increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.14.

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.