Ignite Planners LLC Has $489,000 Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Ignite Planners LLC lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 17,690 shares of the company’s stock after acquiring an additional 1,173 shares during the period. Ignite Planners LLC’s holdings in Conagra Brands were worth $489,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Professional Financial Advisors LLC boosted its holdings in Conagra Brands by 6.1% during the fourth quarter. Professional Financial Advisors LLC now owns 43,558 shares of the company’s stock valued at $1,209,000 after purchasing an additional 2,488 shares in the last quarter. Miracle Mile Advisors LLC lifted its position in shares of Conagra Brands by 9.2% during the 4th quarter. Miracle Mile Advisors LLC now owns 42,952 shares of the company’s stock worth $1,192,000 after buying an additional 3,628 shares during the period. Wedmont Private Capital bought a new position in shares of Conagra Brands during the 4th quarter worth approximately $702,000. Adams Asset Advisors LLC boosted its stake in Conagra Brands by 1.5% in the 4th quarter. Adams Asset Advisors LLC now owns 211,363 shares of the company’s stock valued at $5,865,000 after buying an additional 3,168 shares in the last quarter. Finally, Brookstone Capital Management grew its position in Conagra Brands by 18.4% in the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock valued at $11,085,000 after acquiring an additional 62,187 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $26.31 on Tuesday. The firm has a 50 day simple moving average of $27.48 and a 200 day simple moving average of $29.32. Conagra Brands, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The firm has a market cap of $12.56 billion, a P/E ratio of 25.54, a P/E/G ratio of 2.91 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 earnings per share. Sell-side analysts predict that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.32%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Analysts Set New Price Targets

CAG has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Barclays reduced their price target 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. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Conagra Brands has an average rating of “Hold” and an average target price of $30.56.

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.