Alpha Family Trust Takes $217,000 Position in Conagra Brands, Inc. (NYSE:CAG)

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

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after purchasing an additional 1,871,238 shares during the period. Dimensional Fund Advisors LP raised its holdings in Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock valued at $122,602,000 after acquiring an additional 633,794 shares during the period. Squarepoint Ops LLC raised its holdings in Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after acquiring an additional 1,513,726 shares during the period. Marshall Wace LLP raised its holdings in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after acquiring an additional 2,242,186 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Conagra Brands by 3.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock valued at $65,209,000 after acquiring an additional 78,487 shares during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $26.70 on Friday. The company’s 50 day moving average price is $30.20 and its two-hundred day moving average price is $30.03. Conagra Brands, Inc. has a 12-month low of $26.21 and a 12-month high of $33.24. 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 quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (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 business’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.66 EPS. Equities research analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAG shares. 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 on the stock. Bank of America lowered their price target 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. 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. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Six 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.63.

About Conagra Brands

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.