King Luther Capital Management Corp Buys Shares of 9,190 Conagra Brands, Inc. (NYSE:CAG)

King Luther Capital Management Corp acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 9,190 shares of the company’s stock, valued at approximately $299,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chilton Capital Management LLC acquired a new stake in Conagra Brands during the 2nd quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Conagra Brands in the second quarter valued at $25,000. Hexagon Capital Partners LLC boosted its holdings in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the period. LRI Investments LLC acquired a new position in Conagra Brands during the 1st quarter worth $44,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands in the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.9 %

CAG opened at $27.42 on Friday. Conagra Brands, Inc. has a one year low of $26.21 and a one year 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 stock has a market capitalization of $13.09 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 2.80 and a beta of 0.34. The business’s 50-day simple moving average is $29.67 and its 200-day simple moving average is $29.91.

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

Conagra Brands Announces Dividend

The firm also recently disclosed 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 5.11%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is currently 135.92%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bank of America dropped their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. 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. Finally, The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.