Valley Wealth Managers Inc. Acquires 13,645 Shares of Conagra Brands, Inc. (NYSE:CAG)

Valley Wealth Managers Inc. grew its holdings in Conagra Brands, Inc. (NYSE:CAG) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 528,035 shares of the company’s stock after acquiring an additional 13,645 shares during the quarter. Valley Wealth Managers Inc. owned 0.11% of Conagra Brands worth $17,172,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CAG. Avantax Advisory Services Inc. boosted its position in shares of Conagra Brands by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after acquiring an additional 445 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Conagra Brands by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 502,891 shares of the company’s stock worth $14,906,000 after purchasing an additional 16,003 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Conagra Brands by 13.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,774 shares of the company’s stock worth $17,066,000 after purchasing an additional 70,155 shares during the period. Kingsview Wealth Management LLC lifted its position in Conagra Brands by 8.8% during the first quarter. Kingsview Wealth Management LLC now owns 8,589 shares of the company’s stock worth $255,000 after purchasing an additional 695 shares during the period. Finally, Blair William & Co. IL lifted its position in Conagra Brands by 11.2% during the first quarter. Blair William & Co. IL now owns 227,777 shares of the company’s stock worth $6,751,000 after purchasing an additional 22,980 shares during the period. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. 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 Thursday, October 3rd. Bank of America dropped their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Trading Down 2.0 %

Shares of Conagra Brands stock traded down $0.56 on Friday, hitting $26.89. The stock had a trading volume of 590,512 shares, compared to its average volume of 4,690,742. The stock has a 50 day moving average of $30.32 and a 200 day moving average of $30.07. Conagra Brands, Inc. has a twelve month low of $26.62 and a twelve month high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The firm has a market capitalization of $12.83 billion, a P/E ratio of 26.66, a PEG ratio of 2.85 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company earned $0.66 EPS. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Sell-side analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 135.92%.

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.