Conagra Brands, Inc. (NYSE:CAG) Holdings Raised by Wrapmanager Inc.

Wrapmanager Inc. grew its stake in shares of Conagra Brands, Inc. (NYSE:CAGGet Rating) by 68.6% in the 1st quarter, HoldingsChannel reports. The firm owned 19,533 shares of the company’s stock after acquiring an additional 7,947 shares during the quarter. Wrapmanager Inc.’s holdings in Conagra Brands were worth $656,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC lifted its holdings in shares of Conagra Brands by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 64,343 shares of the company’s stock valued at $2,160,000 after purchasing an additional 693 shares during the last quarter. Alphastar Capital Management LLC raised its position in Conagra Brands by 4.6% during the first quarter. Alphastar Capital Management LLC now owns 14,486 shares of the company’s stock valued at $486,000 after buying an additional 643 shares during the period. Benjamin Edwards Inc. raised its position in Conagra Brands by 146.4% during the first quarter. Benjamin Edwards Inc. now owns 1,690 shares of the company’s stock valued at $57,000 after buying an additional 1,004 shares during the period. Stonnington Group LLC raised its position in Conagra Brands by 25.0% during the first quarter. Stonnington Group LLC now owns 15,000 shares of the company’s stock valued at $525,000 after buying an additional 3,000 shares during the period. Finally, Miracle Mile Advisors LLC raised its position in Conagra Brands by 456.0% during the first quarter. Miracle Mile Advisors LLC now owns 37,494 shares of the company’s stock valued at $1,259,000 after buying an additional 30,750 shares during the period. 83.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Conagra Brands news, Director Emanuel Chirico bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was purchased at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the purchase, the director now directly owns 40,788 shares in the company, valued at $1,389,239.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on CAG shares. Citigroup dropped their price target on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. UBS Group upped their price target on Conagra Brands from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, July 8th. Morgan Stanley dropped their target price on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 15th. Credit Suisse Group dropped their target price on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, July 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Conagra Brands from $35.00 to $32.00 in a research report on Friday, July 15th. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.67.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $35.24 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.31 and a current ratio of 0.86. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 2.07 and a beta of 0.59. The business’s 50-day simple moving average is $33.78 and its 200-day simple moving average is $34.02. Conagra Brands, Inc. has a 52 week low of $30.06 and a 52 week high of $36.97.

Conagra Brands (NYSE:CAGGet Rating) last issued its quarterly earnings data on Thursday, July 14th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.41 earnings per share for the current fiscal year.

Conagra Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Wednesday, August 3rd will be issued a dividend of $0.33 per share. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.75%. Conagra Brands’s dividend payout ratio is currently 71.74%.

Conagra Brands Company Profile

(Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

Further Reading

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands, Inc. (NYSE:CAGGet Rating).

Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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