Centennial Wealth Advisory LLC Grows Position in Conagra Brands, Inc. (NYSE:CAG)

Centennial Wealth Advisory LLC lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,579 shares of the company’s stock after buying an additional 689 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Conagra Brands were worth $409,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Courier Capital LLC raised its stake in shares of Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after buying an additional 355 shares during the period. CWM LLC raised its stake in shares of Conagra Brands by 0.4% during the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after buying an additional 359 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of 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 buying an additional 373 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after buying an additional 376 shares during the period. Finally, Hexagon Capital Partners LLC raised its stake in shares of Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Conagra Brands 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 value of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CAG. Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Stifel Nicolaus cut their target price on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group began coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 target price for the company. 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Up 1.0 %

Shares of CAG traded up $0.30 during midday trading on Wednesday, hitting $29.38. The company had a trading volume of 461,884 shares, compared to its average volume of 4,677,419. The company’s 50-day simple moving average is $30.83 and its 200-day simple moving average is $30.21. 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 firm has a market capitalization of $14.02 billion, a P/E ratio of 28.23, a P/E/G ratio of 2.98 and a beta of 0.34. Conagra Brands, Inc. has a 1 year low of $26.62 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last issued 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 business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the business posted $0.66 EPS. As a group, sell-side analysts expect 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 will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.77%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

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.