Sanctuary Advisors LLC Increases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Sanctuary Advisors LLC increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 526.9% during the third quarter, Holdings Channel.com reports. The firm owned 167,181 shares of the company’s stock after buying an additional 140,512 shares during the period. Sanctuary Advisors LLC’s holdings in Conagra Brands were worth $5,437,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Innealta Capital LLC bought a new stake in Conagra Brands during the 2nd quarter valued at $25,000. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands during the 2nd quarter worth $25,000. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 82.8% during 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 in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Conagra Brands in the third quarter valued at about $47,000. Finally, Kennebec Savings Bank bought a new position in Conagra Brands in the third quarter worth about $59,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAG shares. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Wells Fargo & Company increased their price objective on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America dropped their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Six investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.50.

Conagra Brands Stock Up 0.5 %

Shares of CAG stock opened at $28.20 on Monday. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The firm has a market capitalization of $13.46 billion, a PE ratio of 27.38, a P/E/G ratio of 2.86 and a beta of 0.31. 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’s 50-day simple moving average is $28.40 and its 200-day simple moving average is $29.59.

Conagra Brands (NYSE:CAG) last issued its quarterly 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 business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the company posted $0.66 EPS. Conagra Brands’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts expect that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.96%. Conagra Brands’s payout ratio is 135.92%.

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.