Conagra Brands, Inc. (NYSE:CAG) Shares Bought by HB Wealth Management LLC

HB Wealth Management LLC increased its stake in Conagra Brands, Inc. (NYSE:CAG) by 24.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,447 shares of the company’s stock after purchasing an additional 2,232 shares during the quarter. HB Wealth Management LLC’s holdings in Conagra Brands were worth $339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. First United Bank & Trust purchased a new position in shares of Conagra Brands in the fourth quarter valued at $26,000. Naples Money Management LLC purchased a new position in Conagra Brands during the 4th quarter valued at about $26,000. Advantage Trust Co acquired a new position in Conagra Brands during the fourth quarter worth about $34,000. Parkside Financial Bank & Trust lifted its holdings in shares of Conagra Brands by 48.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after purchasing an additional 454 shares in the last quarter. Finally, Bogart Wealth LLC grew its position in shares of Conagra Brands by 143.3% in the fourth quarter. Bogart Wealth LLC now owns 1,550 shares of the company’s stock valued at $44,000 after purchasing an additional 913 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays lifted their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Stifel Nicolaus lifted their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Citigroup reduced their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.00.

Insider Transactions at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.88% of the company’s stock.

Conagra Brands Price Performance

CAG stock remained flat at $28.13 on Friday. 1,357,446 shares of the company traded hands, compared to its average volume of 4,657,625. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The firm has a market cap of $13.45 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 2.73 and a beta of 0.32. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $33.71. The company has a fifty day simple moving average of $29.74 and a two-hundred day simple moving average of $29.23.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm posted $0.76 EPS. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.98%. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

About Conagra Brands

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.