Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 173,778 shares of the company’s stock after acquiring an additional 3,537 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Conagra Brands were worth $5,651,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CAG. Innealta Capital LLC purchased a new stake in shares of Conagra Brands during the 2nd quarter valued at $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands during the second quarter valued at about $25,000. Hexagon Capital Partners LLC increased its stake in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Conagra Brands in the 1st quarter worth about $42,000. Finally, Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the 3rd quarter valued at about $47,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CAG. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, Bank of America lowered their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Six equities research 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 company’s stock. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average price target of $31.63.

Conagra Brands Price Performance

CAG opened at $27.46 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 1-year low of $26.62 and a 1-year high of $33.24. The company has a 50-day moving average of $30.32 and a 200-day moving average of $30.07. The company has a market capitalization of $13.10 billion, a P/E ratio of 26.66, a PEG ratio of 2.85 and a beta of 0.34.

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

Conagra Brands Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

About Conagra Brands

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.