Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 13.1% in the third quarter, Holdings Channel reports. The firm owned 33,456 shares of the company’s stock after buying an additional 3,867 shares during the period. Thrivent Financial for Lutherans’ holdings in Conagra Brands were worth $1,088,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in Conagra Brands in the second quarter valued at about $25,000. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands during the second quarter valued at about $25,000. Hexagon Capital Partners LLC raised its position in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands in the 3rd quarter worth approximately $47,000. Finally, Versant Capital Management Inc grew its position in Conagra Brands by 637.0% during the 2nd quarter. Versant Capital Management Inc now owns 2,093 shares of the company’s stock worth $59,000 after purchasing an additional 1,809 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.4 %

Shares of CAG opened at $27.55 on Monday. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.84 and a beta of 0.34. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The stock’s 50-day moving average price is $29.17 and its 200-day moving average price is $29.78. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company 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 revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.66 EPS. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

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

Analysts Set New Price Targets

CAG has been the subject of a number of research analyst reports. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group began coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Bank of America cut their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $31.63.

About Conagra Brands

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.