Conagra Brands, Inc. (NYSE:CAG) Stock Holdings Lifted by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lifted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,614 shares of the company’s stock after acquiring an additional 722 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Conagra Brands were worth $211,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Conagra Brands in the 3rd quarter worth about $196,000. Inspire Trust Co. N.A. boosted its holdings in shares of Conagra Brands by 14.7% in the third quarter. Inspire Trust Co. N.A. now owns 85,587 shares of the company’s stock worth $2,783,000 after buying an additional 11,000 shares during the period. Principal Financial Group Inc. increased its position in shares of Conagra Brands by 0.6% in the third quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock worth $18,660,000 after acquiring an additional 3,597 shares in the last quarter. Everence Capital Management Inc. lifted its position in shares of Conagra Brands by 14.2% in the 4th quarter. Everence Capital Management Inc. now owns 18,350 shares of the company’s stock valued at $509,000 after acquiring an additional 2,280 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Conagra Brands by 5.3% in the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after purchasing an additional 618,096 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Barclays boosted their target price on shares of Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. Morgan Stanley assumed coverage on Conagra Brands in a research report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target on the stock. Wells Fargo & Company decreased their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Stifel Nicolaus dropped their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and a consensus target price of $27.90.

Conagra Brands Stock Performance

Shares of CAG opened at $24.34 on Wednesday. The firm has a market cap of $11.62 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. The company’s fifty day moving average is $25.78 and its 200-day moving average is $26.69. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the company earned $0.69 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.75%. Conagra Brands’s dividend payout ratio (DPR) is presently 205.88%.

About Conagra Brands

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.