WealthPlan Investment Management LLC Buys New Shares in Conagra Brands, Inc. (NYSE:CAG)

WealthPlan Investment Management LLC purchased a new position in Conagra Brands, Inc. (NYSE:CAG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,114 shares of the company’s stock, valued at approximately $296,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Courier Capital LLC lifted its holdings in shares of Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after buying an additional 355 shares in the last quarter. CWM LLC increased its holdings in Conagra Brands by 0.4% in the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after acquiring an additional 359 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in Conagra Brands by 0.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after purchasing an additional 376 shares in the last quarter. Bridgewater Advisors Inc. boosted its holdings in shares of Conagra Brands by 1.5% during the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after purchasing an additional 376 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its position in shares of 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. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

CAG stock opened at $27.68 on Wednesday. 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 12 month low of $26.62 and a 12 month high of $33.24. The stock has a market cap of $13.21 billion, a PE ratio of 26.87, a P/E/G ratio of 2.86 and a beta of 0.34. The company has a 50-day moving average price of $30.51 and a 200 day moving average price of $30.10.

Conagra Brands (NYSE:CAG) last released its 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 business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the prior year, the company posted $0.66 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders 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 dividend yield of 5.06%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CAG shares. Wells Fargo & Company increased their price target on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research 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 objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. 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. Based on data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus price target 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.