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

Secure Asset Management LLC boosted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,411 shares of the company’s stock after purchasing an additional 7,856 shares during the quarter. Secure Asset Management LLC’s holdings in Conagra Brands were worth $1,593,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CAG. Donoghue Forlines LLC purchased a new position in Conagra Brands during the fourth quarter valued at $1,593,000. Janney Montgomery Scott LLC lifted its stake in shares of Conagra Brands by 141.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 202,902 shares of the company’s stock worth $5,631,000 after buying an additional 118,970 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Conagra Brands by 171.0% during the fourth quarter. SG Americas Securities LLC now owns 15,640 shares of the company’s stock valued at $434,000 after purchasing an additional 9,868 shares in the last quarter. Dakota Wealth Management lifted its stake in Conagra Brands by 354.8% during the 4th quarter. Dakota Wealth Management now owns 38,045 shares of the company’s stock valued at $1,056,000 after acquiring an additional 29,679 shares during the period. Finally, Red Spruce Capital LLC boosted its holdings in shares of Conagra Brands by 7.8% during the 4th quarter. Red Spruce Capital LLC now owns 57,366 shares of the company’s stock valued at $1,592,000 after acquiring an additional 4,136 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

NYSE CAG opened at $25.35 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 12 month low of $25.06 and a 12 month high of $33.24. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 1.74 and a beta of 0.29. The company’s 50 day moving average is $27.08 and its two-hundred day moving average is $29.17.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s revenue was down .4% on a year-over-year basis. During the same period last year, the firm earned $0.71 EPS. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.52%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Citigroup 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 Wednesday, December 11th. Wells Fargo & Company cut 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. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Finally, BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.56.

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.