Brooklyn Investment Group Takes $123,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Brooklyn Investment Group acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,777 shares of the company’s stock, valued at approximately $123,000.

Other institutional investors also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its holdings in shares of Conagra Brands by 38.9% during the first quarter. B. Riley Wealth Advisors Inc. now owns 13,472 shares of the company’s stock valued at $369,000 after buying an additional 3,776 shares during the last quarter. Tidal Investments LLC grew its stake in Conagra Brands by 83.2% during the 1st quarter. Tidal Investments LLC now owns 34,144 shares of the company’s stock valued at $1,012,000 after purchasing an additional 15,509 shares during the last quarter. Comerica Bank increased its holdings in shares of Conagra Brands by 4.3% in the first quarter. Comerica Bank now owns 216,992 shares of the company’s stock valued at $6,432,000 after purchasing an additional 8,862 shares during the period. LBP AM SA raised its stake in shares of Conagra Brands by 60.0% in the first quarter. LBP AM SA now owns 12,000 shares of the company’s stock worth $356,000 after purchasing an additional 4,500 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its stake in shares of Conagra Brands by 151.3% in the first quarter. iA Global Asset Management Inc. now owns 23,962 shares of the company’s stock worth $710,000 after purchasing an additional 14,427 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Conagra Brands Stock Down 0.1 %

Shares of NYSE:CAG opened at $27.45 on Thursday. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The stock has a market cap of $13.10 billion, a P/E ratio of 26.65, a PEG ratio of 2.83 and a beta of 0.34. The business has a fifty day moving average of $29.47 and a two-hundred day moving average of $29.85. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

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 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 firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.10%. The ex-dividend date was Thursday, October 31st. Conagra Brands’s payout ratio is presently 135.92%.

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.