Gradient Investments LLC Buys New Stake in Conagra Brands Inc (CAG)
Gradient Investments LLC bought a new stake in shares of Conagra Brands Inc (NYSE:CAG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 222,948 shares of the company’s stock, valued at approximately $8,398,000.
Other large investors have also made changes to their positions in the company. Vantage Investment Advisors LLC boosted its position in shares of Conagra Brands by 625.7% during the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after buying an additional 2,578 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Conagra Brands during the fourth quarter valued at approximately $161,000. Strategic Financial Services Inc bought a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $203,000. Iberiabank Corp bought a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $207,000. Finally, Kovack Advisors Inc. bought a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $222,000. Institutional investors and hedge funds own 79.77% of the company’s stock.
Several research firms have recently weighed in on CAG. Credit Suisse Group set a $40.00 price target on shares of Conagra Brands and gave the company a “hold” rating in a research note on Monday, December 25th. Stifel Nicolaus lifted their price target on shares of Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and lifted their price target for the company from $33.00 to $37.00 in a research note on Tuesday, December 12th. Finally, Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $41.00.
Conagra Brands Inc (NYSE:CAG) opened at $35.56 on Friday. The company has a market cap of $14,247.51, a P/E ratio of 19.12, a P/E/G ratio of 2.32 and a beta of 0.27. Conagra Brands Inc has a 12 month low of $32.16 and a 12 month high of $41.68. The company has a quick ratio of 0.54, a current ratio of 1.11 and a debt-to-equity ratio of 0.86.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 21st. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. Conagra Brands’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. analysts forecast that Conagra Brands Inc will post 1.92 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be paid a $0.213 dividend. This is an increase 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 2.40%. Conagra Brands’s payout ratio is 50.90%.
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About Conagra Brands
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.
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