Prospera Financial Services Inc Acquires Shares of 11,061 Conagra Brands, Inc. (NYSE:CAG)

Prospera Financial Services Inc bought a new position in Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,061 shares of the company’s stock, valued at approximately $360,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP lifted its stake in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Conagra Brands by 20.5% in the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after buying an additional 1,871,238 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Conagra Brands by 148.2% in the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Conagra Brands by 2,552.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,289,751 shares of the company’s stock valued at $41,943,000 after buying an additional 1,241,121 shares during the last quarter. Finally, Miller Howard Investments Inc. NY grew its holdings in Conagra Brands by 523.8% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock valued at $41,117,000 after buying an additional 1,214,859 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CAG shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Bank of America dropped 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 note on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Performance

Conagra Brands stock opened at $27.42 on Monday. Conagra Brands, Inc. has a 1-year low of $26.21 and a 1-year high of $33.24. The company’s 50-day moving average is $29.67 and its 200 day moving average is $29.90. The firm has a market capitalization of $13.09 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 2.80 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 earnings per share. Research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s payout ratio is presently 135.92%.

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.