IFP Advisors Inc Grows Stake in Conagra Brands, Inc. (NYSE:CAG)

IFP Advisors Inc increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 1,742.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 102,703 shares of the company’s stock after acquiring an additional 97,129 shares during the period. IFP Advisors Inc’s holdings in Conagra Brands were worth $2,853,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands during the 4th quarter worth $28,000. Grove Bank & Trust increased its holdings in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Conagra Brands during the third quarter worth about $47,000. Stonebridge Financial Group LLC acquired a new position in Conagra Brands during the fourth quarter worth about $44,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Conagra Brands in the third quarter valued at approximately $59,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $25.83 on Tuesday. The stock has a market capitalization of $12.33 billion, a P/E ratio of 25.32, a PEG ratio of 1.76 and a beta of 0.28. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The business’s fifty day moving average price is $26.11 and its 200 day moving average price is $28.49. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.35 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 issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.42%. Conagra Brands’s payout ratio is 137.25%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CAG shares. Barclays dropped their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Wells Fargo & Company cut their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $33.00 to $26.00 in a research report on Monday. Citigroup dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus reduced their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.67.

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.