HB Wealth Management LLC Increases Position in Conagra Brands, Inc. (NYSE:CAG)

HB Wealth Management LLC lifted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 24.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,447 shares of the company’s stock after buying an additional 2,232 shares during the quarter. HB Wealth Management LLC’s holdings in Conagra Brands were worth $339,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Czech National Bank lifted its position in shares of Conagra Brands by 0.5% in the first quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after acquiring an additional 392 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Conagra Brands by 5.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock worth $226,000 after purchasing an additional 403 shares during the period. Parkside Financial Bank & Trust grew its holdings in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after buying an additional 454 shares in the last quarter. Blue Trust Inc. raised its position in shares of Conagra Brands by 31.7% during the fourth quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $55,000 after buying an additional 473 shares during the last quarter. Finally, Stonegate Investment Group LLC raised its position in shares of Conagra Brands by 6.5% during the fourth quarter. Stonegate Investment Group LLC now owns 8,165 shares of the company’s stock valued at $234,000 after buying an additional 500 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG remained flat at $28.13 during trading hours on Friday. The company’s stock had a trading volume of 1,357,446 shares, compared to its average volume of 4,657,625. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The firm has a 50-day simple moving average of $29.74 and a two-hundred day simple moving average of $29.23. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.71. The firm has a market cap of $13.45 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 2.73 and a beta of 0.32.

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 business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.76 earnings per share. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.40 annualized dividend and a yield of 4.98%. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Insiders Place Their Bets

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares in the company, valued at approximately $3,439,523.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on CAG shares. Wells Fargo & Company increased their price objective on shares of 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 stock a “hold” rating in a research note on Friday, April 5th. Barclays increased their target price on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Finally, Citigroup reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

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.