Summit Financial Wealth Advisors LLC Has $1.03 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Summit Financial Wealth Advisors LLC boosted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 40,455 shares of the company’s stock after acquiring an additional 500 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in Conagra Brands were worth $1,030,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands during the fourth quarter worth $28,000. Riverview Trust Co bought a new position in Conagra Brands during the fourth quarter worth about $29,000. Grove Bank & Trust grew its position in shares of Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Conagra Brands in the 4th quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.7 %

Shares of Conagra Brands stock traded down $0.18 on Thursday, reaching $25.51. 798,146 shares of the company were exchanged, compared to its average volume of 5,095,620. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average of $25.69 and a 200 day moving average of $27.23. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.69 EPS. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 5.49%. Conagra Brands’s dividend payout ratio is currently 205.88%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CAG. Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 price objective on the stock. Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Bank of America lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.90.

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.