Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Brookstone Capital Management

Brookstone Capital Management grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 18.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 399,454 shares of the company’s stock after acquiring an additional 62,187 shares during the period. Brookstone Capital Management owned about 0.08% of Conagra Brands worth $11,085,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CAG. Pacer Advisors Inc. grew its stake in shares of Conagra Brands by 21,015.0% during 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 stake in shares of Conagra Brands by 106.4% during 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. Marshall Wace LLP grew its stake in shares of Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after acquiring an additional 2,242,186 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Conagra Brands during the third quarter valued at about $65,932,000. Finally, State Street Corp grew its stake in shares of Conagra Brands by 7.4% during 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. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on CAG shares. Wells Fargo & Company decreased 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. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America decreased their price target 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $30.56.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $26.31 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The firm’s 50-day moving average price is $27.48 and its two-hundred day moving average price is $29.32. Conagra Brands, Inc. has a 52-week low of $25.85 and a 52-week high of $33.24. The stock has a market capitalization of $12.56 billion, a P/E ratio of 25.54, a P/E/G ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last released 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 company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 earnings per share. As a group, sell-side analysts forecast that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm 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 dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.32%. Conagra Brands’s dividend payout ratio (DPR) 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.