Miracle Mile Advisors LLC Purchases 3,628 Shares of Conagra Brands, Inc. (NYSE:CAG)

Miracle Mile Advisors LLC increased its stake in Conagra Brands, Inc. (NYSE:CAG) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,952 shares of the company’s stock after buying an additional 3,628 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Conagra Brands were worth $1,192,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Hexagon Capital Partners LLC increased its stake in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands in the third quarter worth $47,000. ST Germain D J Co. Inc. increased its stake in Conagra Brands by 36.2% in the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after purchasing an additional 529 shares during the period. Kennebec Savings Bank purchased a new position in shares of Conagra Brands during the third quarter valued at $59,000. Finally, Quarry LP increased its stake in shares of Conagra Brands by 229.7% during the third quarter. Quarry LP now owns 1,820 shares of the company’s stock valued at $59,000 after buying an additional 1,268 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $26.06 on Wednesday. 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 company has a market cap of $12.44 billion, a PE ratio of 25.30, a P/E/G ratio of 2.91 and a beta of 0.29. The business has a 50-day simple moving average of $27.48 and a two-hundred day simple moving average of $29.32. Conagra Brands, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $0.71 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.58 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

Analyst Ratings Changes

Several equities analysts have recently commented on CAG shares. Wells Fargo & Company cut their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. cut their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Seven research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.56.

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.