Chris Bulman Inc Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Chris Bulman Inc bought a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) in the second quarter, Holdings Channel.com reports. The fund bought 2,978 shares of the company’s stock, valued at approximately $85,000.

Other large investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its holdings in Conagra Brands by 7.7% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock worth $155,000 after acquiring an additional 373 shares in the last quarter. Czech National Bank increased its stake in Conagra Brands by 0.5% during the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after purchasing an additional 392 shares in the last quarter. Kingsview Wealth Management LLC increased its position in shares of Conagra Brands by 5.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock valued at $226,000 after acquiring an additional 403 shares during the period. Summit Financial Wealth Advisors LLC raised its stake in shares of Conagra Brands by 1.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after purchasing an additional 430 shares during the last quarter. Finally, Courier Capital LLC raised its position in Conagra Brands by 1.7% during the 2nd quarter. Courier Capital LLC now owns 26,707 shares of the company’s stock worth $759,000 after buying an additional 438 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 of the company’s stock, valued at $4,890,108.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Barclays decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada dropped their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Stifel Nicolaus cut their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. Finally, The Goldman Sachs Group began coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus target price of $30.90.

Conagra Brands Trading Up 0.6 %

CAG opened at $32.74 on Monday. The business has a fifty day simple moving average of $30.08 and a 200-day simple moving average of $29.75. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $32.85. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market cap of $15.68 billion, a P/E ratio of 44.85, a P/E/G ratio of 3.00 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. On average, equities analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were paid a $0.35 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.28%. Conagra Brands’s dividend payout ratio is currently 191.78%.

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.