14,799 Shares in Conagra Brands, Inc. (NYSE:CAG) Acquired by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC purchased a new stake in Conagra Brands, Inc. (NYSE:CAG) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,799 shares of the company’s stock, valued at approximately $481,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AIA Group Ltd grew its position in shares of Conagra Brands by 19.6% in the 3rd quarter. AIA Group Ltd now owns 13,856 shares of the company’s stock valued at $451,000 after buying an additional 2,275 shares during the last quarter. Kornitzer Capital Management Inc. KS grew its holdings in shares of Conagra Brands by 0.6% during the third quarter. Kornitzer Capital Management Inc. KS now owns 759,142 shares of the company’s stock worth $24,687,000 after purchasing an additional 4,888 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Conagra Brands by 0.6% during the third quarter. Principal Financial Group Inc. now owns 573,789 shares of the company’s stock worth $18,660,000 after purchasing an additional 3,597 shares in the last quarter. Bridgewater Advisors Inc. lifted its holdings in shares of Conagra Brands by 1.5% in the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after purchasing an additional 376 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its holdings in shares of Conagra Brands by 4.9% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 27,570 shares of the company’s stock valued at $897,000 after purchasing an additional 1,291 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE:CAG traded up $0.07 during midday trading on Friday, hitting $28.38. The stock had a trading volume of 217,944 shares, compared to its average volume of 4,684,516. Conagra Brands, Inc. has a 1 year low of $26.62 and a 1 year high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average price of $30.72 and a two-hundred day moving average price of $30.19. The company has a market capitalization of $13.54 billion, a PE ratio of 27.48, a P/E/G ratio of 2.96 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 4.14% and a return on equity of 13.71%. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.66 EPS. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal 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 paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.93%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Wall Street Analyst Weigh In

CAG has been the subject of a number of research reports. Evercore ISI reduced their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Six research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.63.

Insider Activity

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.51% of the company’s stock.

Conagra Brands Company 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.