Arkadios Wealth Advisors Buys 376 Shares of Conagra Brands, Inc. (NYSE:CAG)

Arkadios Wealth Advisors raised its position in Conagra Brands, Inc. (NYSE:CAG) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 52,769 shares of the company’s stock after buying an additional 376 shares during the period. Arkadios Wealth Advisors’ holdings in Conagra Brands were worth $1,716,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Forsta AP Fonden boosted its holdings in Conagra Brands by 7.4% in the third quarter. Forsta AP Fonden now owns 113,500 shares of the company’s stock valued at $3,691,000 after acquiring an additional 7,800 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Conagra Brands by 42.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,974 shares of the company’s stock valued at $1,493,000 after purchasing an additional 13,654 shares during the last quarter. Tectonic Advisors LLC grew its position in shares of Conagra Brands by 18.0% during the 3rd quarter. Tectonic Advisors LLC now owns 16,286 shares of the company’s stock worth $530,000 after buying an additional 2,481 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Conagra Brands by 2,552.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock worth $41,943,000 after buying an additional 1,241,121 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in Conagra Brands by 3.7% in the third quarter. IFM Investors Pty Ltd now owns 102,314 shares of the company’s stock valued at $3,327,000 after buying an additional 3,675 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CAG shares. Wells Fargo & Company boosted their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Barclays lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Stifel Nicolaus lowered their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. Evercore ISI cut their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Up 0.3 %

Conagra Brands stock opened at $29.43 on Friday. 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 company’s 50-day moving average is $31.06 and its 200-day moving average is $30.25. The firm has a market capitalization of $14.05 billion, a PE ratio of 28.57, a P/E/G ratio of 3.03 and a beta of 0.32. Conagra Brands, Inc. has a fifty-two week low of $26.62 and a fifty-two week high of $33.24.

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

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is 135.92%.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.51% of the company’s stock.

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.