Conagra Brands, Inc. (NYSE:CAG) Holdings Lifted by Sound Income Strategies LLC

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC raised its stake in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands during the fourth quarter valued at $28,000. Grove Bank & Trust raised its stake in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands in the third quarter worth about $47,000. Finally, Kennebec Savings Bank bought a new position in Conagra Brands in the 3rd quarter valued at about $59,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Barclays cut 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. Bank of America lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Finally, Wells Fargo & Company cut their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Seven 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 data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.56.

Conagra Brands Trading Up 0.2 %

Shares of NYSE CAG opened at $25.35 on Friday. The business has a fifty day simple moving average of $27.08 and a 200-day simple moving average of $29.17. The company has a market cap of $12.10 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 1.72 and a beta of 0.29. Conagra Brands, Inc. has a 12 month low of $25.06 and a 12 month high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

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

Conagra Brands Announces Dividend

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

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.