Conagra Brands (NYSE:CAG) Holdings Raised by Empirical Finance LLC

Empirical Finance LLC lifted its stake in shares of Conagra Brands (NYSE:CAG) by 5.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,064 shares of the company’s stock after purchasing an additional 877 shares during the quarter. Empirical Finance LLC’s holdings in Conagra Brands were worth $455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management bought a new stake in shares of Conagra Brands during the first quarter valued at about $26,000. Capital Advisors Ltd. LLC raised its stake in shares of Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock valued at $27,000 after purchasing an additional 452 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after purchasing an additional 741 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in Conagra Brands in the 1st quarter valued at about $34,000. Finally, AdvisorNet Financial Inc lifted its holdings in Conagra Brands by 86.1% in the 1st quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company’s stock valued at $40,000 after acquiring an additional 690 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Trading Down 0.1%

Shares of NYSE CAG opened at $19.20 on Tuesday. The stock has a market cap of $9.17 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 1.84 and a beta of 0.11. The business has a 50 day simple moving average of $21.11 and a 200 day simple moving average of $23.82. Conagra Brands has a 52 week low of $18.67 and a 52 week high of $33.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The company had revenue of $2,781,800 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. On average, research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Wednesday, July 30th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.29%. Conagra Brands’s dividend payout ratio (DPR) is currently 58.58%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank Of Canada decreased their price target on shares of Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Friday, July 11th. Bank of America lowered Conagra Brands from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Morgan Stanley dropped their price target on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Friday, July 11th. Evercore ISI reduced their price objective on shares of Conagra Brands from $26.00 to $24.00 and set an “in-line” rating for the company in a research note on Friday, July 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.58.

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.