First Heartland Consultants Inc. Invests $227,000 in Conagra Brands, Inc. (NYSE:CAG)

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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of Conagra Brands by 21.4% during the first quarter. Empowered Funds LLC now owns 37,439 shares of the company’s stock worth $1,110,000 after buying an additional 6,610 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Conagra Brands by 4.1% in the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock worth $334,000 after buying an additional 445 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Conagra Brands by 3.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 502,891 shares of the company’s stock worth $14,906,000 after buying an additional 16,003 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Conagra Brands by 13.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,774 shares of the company’s stock worth $17,066,000 after buying an additional 70,155 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its stake in Conagra Brands by 2.8% during the first quarter. HBK Sorce Advisory LLC now owns 34,782 shares of the company’s stock valued at $1,031,000 after purchasing an additional 963 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.1 %

Shares of Conagra Brands stock opened at $27.64 on Thursday. The company’s fifty day simple moving average is $30.42 and its 200-day simple moving average is $30.09. The company has a market cap of $13.19 billion, a price-to-earnings ratio of 26.83, a PEG 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. Conagra Brands, Inc. has a 1 year low of $26.62 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company 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 business posted $0.66 EPS. The company’s revenue was down 3.8% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.07%. Conagra Brands’s dividend payout ratio is currently 135.92%.

Analysts Set New Price Targets

Several equities analysts have recently commented on CAG shares. Bank of America lowered their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. The Goldman Sachs Group started coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company raised their target price 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.