Conagra Brands, Inc. (NYSE:CAG) Stake Increased by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. grew its holdings in Conagra Brands, Inc. (NYSE:CAG) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 564,586 shares of the company’s stock after purchasing an additional 36,551 shares during the period. Valley Wealth Managers Inc. owned approximately 0.12% of Conagra Brands worth $15,667,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Atria Wealth Solutions Inc. lifted its holdings in shares of Conagra Brands by 28.9% in the fourth quarter. Atria Wealth Solutions Inc. now owns 25,540 shares of the company’s stock valued at $709,000 after purchasing an additional 5,721 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in shares of Conagra Brands by 7.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 818,384 shares of the company’s stock worth $22,710,000 after acquiring an additional 59,242 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Conagra Brands by 4.4% during the fourth quarter. D.A. Davidson & CO. now owns 194,693 shares of the company’s stock worth $5,403,000 after acquiring an additional 8,222 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Conagra Brands by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock worth $2,346,000 after acquiring an additional 501 shares in the last quarter. Finally, KLCM Advisors Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter worth $2,415,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the subject of several recent research reports. Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Stifel Nicolaus cut their price objective on Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a report on Friday, January 24th. Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and an average price target of $30.33.

Conagra Brands Trading Up 1.3 %

Conagra Brands stock opened at $25.31 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 1.70 and a beta of 0.28. Conagra Brands, Inc. has a one year low of $24.18 and a one year high of $33.24. The company’s fifty day moving average price is $26.41 and its two-hundred day moving average price is $28.67.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.71 earnings per share. On average, analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal 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 given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.26%.

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.