Envestnet Asset Management Inc. Increases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Envestnet Asset Management Inc. grew its stake in Conagra Brands, Inc. (NYSE:CAG) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,294,468 shares of the company’s stock after buying an additional 78,487 shares during the period. Envestnet Asset Management Inc. owned approximately 0.48% of Conagra Brands worth $65,209,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CAG. Innealta Capital LLC purchased a new position in Conagra Brands in the second quarter worth $25,000. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands during the 2nd quarter valued at about $25,000. Whittier Trust Co. lifted its position in Conagra Brands by 144.4% in the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after buying an additional 836 shares during the last quarter. LRI Investments LLC purchased a new stake in Conagra Brands in the first quarter worth approximately $42,000. Finally, Security National Bank bought a new position in Conagra Brands during the fourth quarter valued at approximately $48,000. Institutional investors own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now directly owns 161,443 shares in the company, valued at $4,890,108.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Evercore ISI cut their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Citigroup reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company lowered their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada reduced their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Stifel Nicolaus lowered their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.10.

Conagra Brands Price Performance

Shares of CAG stock opened at $32.73 on Thursday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm has a market cap of $15.65 billion, a P/E ratio of 44.84, a P/E/G ratio of 2.88 and a beta of 0.32. The business’s 50 day moving average price is $30.63 and its 200-day moving average price is $29.96. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.24.

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

Conagra Brands Announces Dividend

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

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.