Conagra Brands, Inc. (NYSE:CAG) Shares Bought by Cypress Capital Group

Cypress Capital Group lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 36.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,900 shares of the company’s stock after acquiring an additional 6,065 shares during the period. Cypress Capital Group’s holdings in Conagra Brands were worth $745,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CAG. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands in the second quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Conagra Brands in the second quarter valued at $25,000. Hexagon Capital Partners LLC boosted its stake in shares of 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 bought a new position in Conagra Brands during the 1st quarter valued at $44,000. Finally, Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research reports. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands 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. Wells Fargo & Company lifted their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Bank of America reduced their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Six 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Price Performance

CAG opened at $27.12 on Friday. The firm’s 50-day simple moving average is $29.77 and its 200-day simple moving average is $29.93. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The firm has a market cap of $12.94 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.73 and a beta of 0.34.

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

Conagra Brands Announces Dividend

The business 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 of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.16%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

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.