Larson Financial Group LLC Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

Larson Financial Group LLC boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 547.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,099 shares of the company’s stock after purchasing an additional 1,775 shares during the period. Larson Financial Group LLC’s holdings in Conagra Brands were worth $68,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CAG. Federated Hermes Inc. increased its stake in shares of Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Conagra Brands by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after acquiring an additional 633,794 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Conagra Brands by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,102,985 shares of the company’s stock worth $100,909,000 after purchasing an additional 63,738 shares in the last quarter. Finally, Squarepoint Ops LLC raised its stake in Conagra Brands by 148.2% during the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after purchasing an additional 1,513,726 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.4 %

Shares of CAG stock opened at $27.55 on Friday. The company has a market cap of $13.15 billion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The stock’s 50 day simple moving average is $29.26 and its two-hundred day simple moving average is $29.82. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.66 EPS. Research analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.08%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CAG shares. 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 target price on the stock. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America dropped their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on 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, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.