Baron Wealth Management LLC Invests $217,000 in Conagra Brands, Inc. (NYSE:CAG)

Baron Wealth Management LLC acquired a new position in Conagra Brands, Inc. (NYSE:CAG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,662 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors have also recently made changes to their positions in the business. Bessemer Group Inc. raised its stake in shares of Conagra Brands by 237.9% during the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after buying an additional 54,195 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Conagra Brands during the 3rd quarter worth approximately $1,020,000. UniSuper Management Pty Ltd boosted its holdings in shares of Conagra Brands by 573.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock worth $1,128,000 after purchasing an additional 32,396 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in Conagra Brands in the third quarter valued at approximately $3,829,000. Finally, Swedbank AB acquired a new position in Conagra Brands in the first quarter valued at approximately $18,268,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company upped their price target 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. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $31.63.

Conagra Brands Stock Down 0.3 %

Shares of NYSE:CAG opened at $26.61 on Tuesday. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. The company has a 50 day moving average of $30.07 and a 200-day moving average of $30.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 25.83, a P/E/G ratio of 2.75 and a beta of 0.34.

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

Conagra Brands Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 5.26%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is currently 135.92%.

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.