Kestra Private Wealth Services LLC Acquires 6,177 Shares of Conagra Brands, Inc. (NYSE:CAG)

Kestra Private Wealth Services LLC raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,423 shares of the company’s stock after buying an additional 6,177 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Conagra Brands were worth $1,216,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brookstone Capital Management increased its stake in Conagra Brands by 5.0% during the third quarter. Brookstone Capital Management now owns 31,776 shares of the company’s stock valued at $863,000 after acquiring an additional 1,504 shares during the period. Commonwealth Equity Services LLC increased its holdings in Conagra Brands by 1.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 191,649 shares of the company’s stock valued at $5,255,000 after buying an additional 2,207 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in shares of Conagra Brands by 15.5% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 111,117 shares of the company’s stock valued at $3,047,000 after buying an additional 14,900 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of Conagra Brands by 1.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 28,498 shares of the company’s stock worth $781,000 after acquiring an additional 393 shares during the period. Finally, Bailard Inc. boosted its position in shares of Conagra Brands by 18.9% during the 3rd quarter. Bailard Inc. now owns 21,720 shares of the company’s stock valued at $596,000 after acquiring an additional 3,447 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CAG. Wells Fargo & Company lifted their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Stifel Nicolaus lifted their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Citigroup upped their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Barclays boosted their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $33.14.

Conagra Brands Stock Performance

CAG stock opened at $30.59 on Friday. The stock has a market capitalization of $14.62 billion, a PE ratio of 15.37, a price-to-earnings-growth ratio of 3.10 and a beta of 0.38. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The company has a 50 day moving average price of $29.45 and a 200 day moving average price of $28.77. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.20.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. Analysts forecast that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio is 70.35%.

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.