First Heartland Consultants Inc. Buys New Shares in Conagra Brands, Inc. (NYSE:CAG)

First Heartland Consultants Inc. bought a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,965 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aigen Investment Management LP bought a new stake in shares of Conagra Brands during the 3rd quarter valued at about $1,020,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Conagra Brands by 2.6% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,225,637 shares of the company’s stock valued at $39,858,000 after purchasing an additional 30,685 shares in the last quarter. WealthPlan Investment Management LLC purchased a new position in Conagra Brands during the 3rd quarter valued at about $296,000. Venturi Wealth Management LLC lifted its position in Conagra Brands by 30.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 5,838 shares of the company’s stock valued at $190,000 after acquiring an additional 1,366 shares during the period. Finally, Kennebec Savings Bank purchased a new position in Conagra Brands during the 3rd quarter valued at about $59,000. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the topic of several research analyst reports. Bank of America lowered their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price target 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. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Finally, 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 objective for the company. 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 stock. According to MarketBeat, Conagra Brands presently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Down 0.1 %

Shares of NYSE CAG opened at $27.64 on Thursday. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month high of $33.24. The stock has a market cap of $13.19 billion, a PE ratio of 26.83, a P/E/G ratio of 2.85 and a beta of 0.34. 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 company has a 50-day moving average of $30.42 and a 200 day moving average of $30.09.

Conagra Brands (NYSE:CAG) last posted 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). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend 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.