Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc raised its stake in Conagra Brands, Inc. (NYSE:CAG) by 1,742.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,703 shares of the company’s stock after acquiring an additional 97,129 shares during the period. IFP Advisors Inc’s holdings in Conagra Brands were worth $2,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands in the 4th quarter valued at about $28,000. Grove Bank & Trust increased its position in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands in the third quarter valued at approximately $47,000. Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $44,000. Finally, Kennebec Savings Bank purchased a new position in shares of Conagra Brands during the third quarter worth approximately $59,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. The Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $26.00 in a research report on Monday. Bank of America reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Citigroup dropped their price target on 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, Stifel Nicolaus decreased their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Eight equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.67.

Conagra Brands Price Performance

Shares of CAG opened at $25.83 on Tuesday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock’s 50 day moving average is $26.11 and its two-hundred day moving average is $28.49. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24. The firm has a market capitalization of $12.33 billion, a PE ratio of 25.32, a P/E/G ratio of 1.76 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.71 earnings per share. Research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued 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 5.42%. Conagra Brands’s dividend payout ratio is presently 137.25%.

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.