Secure Asset Management LLC Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

Secure Asset Management LLC grew its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,555 shares of the company’s stock after buying an additional 1,686 shares during the quarter. Secure Asset Management LLC’s holdings in Conagra Brands were worth $1,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in Conagra Brands during the second quarter worth $25,000. Chilton Capital Management LLC bought a new stake in shares of Conagra Brands during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC boosted its holdings in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the last quarter. Whittier Trust Co. grew its position in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after buying an additional 836 shares during the period. Finally, LRI Investments LLC purchased a new stake in Conagra Brands during the first quarter worth about $42,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

CAG has been the topic of a number of research analyst reports. Evercore ISI dropped their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Stifel Nicolaus dropped their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company raised their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday. Citigroup lowered their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Finally, The Goldman Sachs Group assumed coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $30.31 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a fifty-two week low of $26.62 and a fifty-two week high of $33.24. The stock has a market cap of $14.49 billion, a PE ratio of 41.52, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32. The stock has a fifty day moving average of $31.15 and a 200-day moving average of $30.29.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the previous year, the firm earned $0.66 EPS. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is 191.78%.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

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.