Alpha Family Trust Buys Shares of 6,660 Conagra Brands, Inc. (NYSE:CAG)

Alpha Family Trust bought a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 6,660 shares of the company’s stock, valued at approximately $217,000.

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

Conagra Brands Price Performance

Shares of NYSE CAG opened at $26.70 on Friday. The firm has a market cap of $12.74 billion, a PE ratio of 25.92, a PEG ratio of 2.75 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The company has a fifty day moving average price of $30.20 and a 200 day moving average price of $30.03.

Conagra Brands (NYSE:CAG) last announced its 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 company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the company posted $0.66 earnings per share. Conagra Brands’s revenue for the quarter was down 3.8% on a year-over-year basis. Research analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.24%. Conagra Brands’s dividend payout ratio is 135.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CAG shares. Bank of America decreased their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Wells Fargo & Company boosted their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Six 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.