Larson Financial Group LLC Acquires 1,775 Shares of Conagra Brands, Inc. (NYSE:CAG)

Larson Financial Group LLC raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 547.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,099 shares of the company’s stock after buying an additional 1,775 shares during the period. Larson Financial Group LLC’s holdings in Conagra Brands were worth $68,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares in the last quarter. Marshall Wace LLP raised its position in Conagra Brands by 1,362.6% during the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock valued at $68,400,000 after purchasing an additional 2,242,186 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Conagra Brands by 20.5% in the 2nd 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 during the period. Squarepoint Ops LLC increased its stake in shares of Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after buying an additional 1,513,726 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Conagra Brands by 2,552.2% in 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 acquiring an additional 1,241,121 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $27.55 on Friday. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The company has a market cap of $13.15 billion, a PE ratio of 26.75, a P/E/G ratio of 2.83 and a beta of 0.34. The business has a 50-day simple moving average of $29.26 and a two-hundred day simple moving average of $29.82.

Conagra Brands (NYSE:CAG) last released its 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 company had revenue of $2.79 billion for 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 firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a $0.35 dividend. The ex-dividend date was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.08%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CAG shares. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. 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. Bank of America reduced 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 Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Finally, Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Six 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, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.