Sequoia Financial Advisors LLC Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Sequoia Financial Advisors LLC bought a new position in Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 17,739 shares of the company’s stock, valued at approximately $508,000.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co increased its position in Conagra Brands by 132.8% in the third quarter. Riverview Trust Co now owns 945 shares of the company’s stock worth $26,000 after buying an additional 539 shares during the period. Thompson Investment Management Inc. increased its position in Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock worth $27,000 after buying an additional 500 shares during the period. Authentikos Wealth Advisory LLC acquired a new stake in Conagra Brands in the third quarter worth $33,000. Clear Street Markets LLC increased its position in Conagra Brands by 93.2% in the first quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock worth $35,000 after buying an additional 451 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new stake in Conagra Brands in the second quarter worth $35,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

NYSE:CAG opened at $30.00 on Wednesday. The business’s 50-day moving average price is $28.68 and its 200 day moving average price is $28.46. The firm has a market cap of $14.34 billion, a P/E ratio of 15.08, a PEG ratio of 2.94 and a beta of 0.41. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $38.73. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (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 firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company earned $0.76 earnings per share. Conagra Brands’s revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be given a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.67%. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CAG. Stifel Nicolaus raised their price target on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Barclays raised their price target on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Citigroup raised their price target on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Royal Bank of Canada lowered their price target on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company raised their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $33.14.

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.