Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC raised its position in shares of Conagra Brands, Inc. (NYSE:CAGFree Report) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,352 shares of the company’s stock after acquiring an additional 15,834 shares during the quarter. Sound Income Strategies LLC’s holdings in Conagra Brands were worth $3,756,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its stake in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter worth $28,000. Grove Bank & Trust boosted its stake in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the period. Abich Financial Wealth Management LLC acquired a new position in Conagra Brands during the 3rd quarter worth approximately $47,000. Finally, Kennebec Savings Bank purchased a new position in Conagra Brands in the third quarter valued at $59,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.2 %

Shares of NYSE CAG opened at $25.35 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average price is $27.08 and its two-hundred day moving average price is $29.17. Conagra Brands, Inc. has a 52-week low of $25.06 and a 52-week high of $33.24. The stock has a market capitalization of $12.10 billion, a P/E ratio of 24.86, a PEG ratio of 1.72 and a beta of 0.29.

Conagra Brands (NYSE:CAGGet Free Report) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.52%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CAG. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Bank of America cut 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. Citigroup lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company cut their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.56.

Read Our Latest Report on Conagra Brands

About Conagra Brands

(Free Report)

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.

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

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