Asset Planning Inc Invests $53,000 in Conagra Brands, Inc. (NYSE:CAG)

Asset Planning Inc acquired a new position in Conagra Brands, Inc. (NYSE:CAG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,900 shares of the company’s stock, valued at approximately $53,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. grew its holdings in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares in the last quarter. Two Sigma Advisers LP grew its holdings in shares of Conagra Brands by 106.4% in the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after acquiring an additional 3,133,200 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Conagra Brands in the third quarter valued at approximately $65,932,000. State Street Corp grew its holdings in shares of Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after acquiring an additional 1,691,945 shares in the last quarter. Finally, Ilex Capital Partners UK LLP bought a new position in shares of Conagra Brands in the third quarter valued at approximately $46,990,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Conagra Brands stock opened at $25.31 on Friday. Conagra Brands, Inc. has a one year low of $24.18 and a one year high of $33.24. The business has a fifty day moving average price of $26.46 and a 200-day moving average price of $28.73. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a market capitalization of $12.08 billion, a P/E ratio of 24.81, a PEG ratio of 1.70 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.53%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Analyst Upgrades and Downgrades

CAG has been the subject of several recent analyst reports. Bank of America reduced their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Barclays reduced their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Stifel Nicolaus reduced their price objective on Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, January 24th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.33.

Conagra Brands 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.