Wilmington Savings Fund Society FSB Takes $196,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Wilmington Savings Fund Society FSB purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the third quarter, HoldingsChannel reports. The fund purchased 6,037 shares of the company’s stock, valued at approximately $196,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC bought a new stake in shares of Conagra Brands in the second quarter valued at approximately $25,000. Hexagon Capital Partners LLC grew 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 worth $30,000 after buying an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the 3rd quarter worth $47,000. Finally, Kennebec Savings Bank bought a new position in Conagra Brands during the 3rd quarter worth $59,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CAG shares. Wells Fargo & Company cut their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating 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 for the company in a report on Wednesday, December 11th. Finally, Bank of America decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $31.38.

Conagra Brands Trading Down 1.8 %

Shares of Conagra Brands stock opened at $27.37 on Thursday. The firm has a market capitalization of $13.06 billion, a PE ratio of 26.57, a price-to-earnings-growth ratio of 2.91 and a beta of 0.31. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The firm’s 50 day moving average is $28.31 and its 200 day moving average is $29.55. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24.

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 analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities research analysts forecast that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.12%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Conagra Brands Company 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.