Ashton Thomas Private Wealth LLC Has $845,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Ashton Thomas Private Wealth LLC decreased its stake in Conagra Brands, Inc. (NYSE:CAG) by 6.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 25,973 shares of the company’s stock after selling 1,738 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Conagra Brands were worth $845,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAG. Chilton Capital Management LLC bought a new position in shares of Conagra Brands in the 2nd quarter valued at $25,000. Innealta Capital LLC acquired a new position in Conagra Brands in the 2nd quarter worth about $25,000. Hexagon Capital Partners LLC increased its holdings in 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 purchasing an additional 420 shares in the last quarter. LRI Investments LLC bought a new position in Conagra Brands in the first quarter valued at about $44,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands during the third quarter valued at about $47,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $27.64 on Thursday. The company has a market cap of $13.19 billion, a P/E ratio of 26.83, a PEG ratio of 2.85 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $30.42 and a two-hundred day moving average price of $30.09. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the business earned $0.66 EPS. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.07%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CAG shares. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. 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, October 17th. Bank of America cut their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average price target of $31.63.

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.