SVB Wealth LLC Invests $1.68 Million in Conagra Brands $CAG

SVB Wealth LLC purchased a new position in Conagra Brands (NYSE:CAG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 107,089 shares of the company’s stock, valued at approximately $1,683,000.

Several other institutional investors have also bought and sold shares of the company. Bell Investment Advisors Inc grew its holdings in Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after purchasing an additional 1,029 shares during the period. Atlas Brown Inc. bought a new stake in shares of Conagra Brands in the first quarter valued at $199,000. Brookstone Capital Management raised its stake in shares of Conagra Brands by 36.1% in the first quarter. Brookstone Capital Management now owns 17,072 shares of the company’s stock valued at $268,000 after buying an additional 4,531 shares during the period. Uhlmann Price Securities LLC purchased a new position in shares of Conagra Brands during the 1st quarter valued at $172,000. Finally, Hsbc Holdings PLC lifted its position in shares of Conagra Brands by 25.0% during the 4th quarter. Hsbc Holdings PLC now owns 785,989 shares of the company’s stock valued at $13,634,000 after buying an additional 157,423 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

CAG has been the subject of several recent research reports. BNP Paribas Exane decreased their price objective on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. Weiss Ratings raised shares of Conagra Brands from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, June 18th. Royal Bank Of Canada reduced their target price on shares of Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. Finally, Stifel Nicolaus lowered their price target on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $14.20.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $13.44 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.30 and a current ratio of 0.90. Conagra Brands has a fifty-two week low of $12.53 and a fifty-two week high of $21.64. The stock has a market cap of $6.43 billion, a PE ratio of -134.39, a price-to-earnings-growth ratio of -0.80 and a beta of -0.02. The stock has a fifty day moving average of $13.73 and a 200-day moving average of $16.12.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period last year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities research analysts anticipate that Conagra Brands will post 1.7 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.4%. The ex-dividend date of this dividend was Thursday, April 30th. Conagra Brands’s dividend payout ratio is presently -1,400.00%.

Insider Transactions at Conagra Brands

In other news, Director John J. Mulligan acquired 17,500 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The stock was bought at an average price of $14.31 per share, with a total value of $250,425.00. Following the completion of the purchase, the director owned 20,728 shares in the company, valued at approximately $296,617.68. The trade was a 542.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard H. Lenny bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The shares were purchased at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the acquisition, the director directly owned 229,340 shares in the company, valued at $3,288,735.60. This trade represents a 12.23% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company’s stock.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.