Stonegate Investment Group LLC Buys 6,165 Shares of Conagra Brands (NYSE:CAG)

Stonegate Investment Group LLC boosted its stake in Conagra Brands (NYSE:CAG) by 19.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,427 shares of the company’s stock after purchasing an additional 6,165 shares during the quarter. Stonegate Investment Group LLC’s holdings in Conagra Brands were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CAG. Principal Securities Inc. raised its holdings in shares of Conagra Brands by 112.2% in the 4th quarter. Principal Securities Inc. now owns 3,275 shares of the company’s stock valued at $91,000 after acquiring an additional 1,732 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Conagra Brands by 35.8% in the 4th quarter. Allworth Financial LP now owns 5,214 shares of the company’s stock valued at $132,000 after acquiring an additional 1,375 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after acquiring an additional 501 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Conagra Brands by 28.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 25,540 shares of the company’s stock valued at $709,000 after acquiring an additional 5,721 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in shares of Conagra Brands by 36.8% in the 4th quarter. Handelsbanken Fonder AB now owns 208,287 shares of the company’s stock valued at $5,780,000 after acquiring an additional 56,012 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $21.50 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23. The business’s 50 day simple moving average is $23.25 and its two-hundred day simple moving average is $25.18. The stock has a market capitalization of $10.26 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 1.58 and a beta of 0.14. Conagra Brands has a one year low of $21.18 and a one year high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. Conagra Brands’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.69 earnings per share. Analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were paid a $0.35 dividend. The ex-dividend date was Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 6.51%. Conagra Brands’s dividend payout ratio (DPR) is currently 205.88%.

Analysts Set New Price Targets

Several research firms have weighed in on CAG. Morgan Stanley began coverage on Conagra Brands in a report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday, May 6th. Bank of America cut Conagra Brands from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $27.00 to $20.00 in a report on Thursday, June 12th. The Goldman Sachs Group cut Conagra Brands from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $26.00 to $21.00 in a report on Monday, June 9th. Finally, Barclays decreased their price objective on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.36.

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.