Courier Capital LLC Raises Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Courier Capital LLC grew its stake in Conagra Brands, Inc. (NYSE:CAG) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,062 shares of the company’s stock after buying an additional 355 shares during the period. Courier Capital LLC’s holdings in Conagra Brands were worth $880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Iron Horse Wealth Management LLC grew its stake in Conagra Brands by 100.0% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 4,000 shares of the company’s stock worth $130,000 after buying an additional 2,000 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in Conagra Brands in the 3rd quarter worth approximately $816,000. Signaturefd LLC grew its stake in Conagra Brands by 4.2% in the 3rd quarter. Signaturefd LLC now owns 25,142 shares of the company’s stock worth $818,000 after buying an additional 1,008 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Conagra Brands by 46.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 17,979 shares of the company’s stock worth $585,000 after buying an additional 5,693 shares in the last quarter. Finally, Home Federal Bank of Tennessee grew its stake in Conagra Brands by 14.5% in the 3rd quarter. Home Federal Bank of Tennessee now owns 20,560 shares of the company’s stock worth $669,000 after buying an additional 2,610 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.1 %

NYSE:CAG opened at $29.46 on Thursday. The company has a fifty day moving average of $31.13 and a 200 day moving average of $30.29. Conagra Brands, Inc. has a 52 week low of $26.62 and a 52 week high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $14.08 billion, a P/E ratio of 40.35, a P/E/G ratio of 3.01 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the company earned $0.66 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, 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 issued 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 yield of 4.75%. Conagra Brands’s dividend payout ratio is currently 191.78%.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CAG. Bank of America cut their price target 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. Evercore ISI lowered their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group began coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Barclays lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands presently has an average 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.