Trajan Wealth LLC Purchases 16,069 Shares of Conagra Brands, Inc. (NYSE:CAG)

Trajan Wealth LLC grew its holdings in Conagra Brands, Inc. (NYSE:CAG) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 161,947 shares of the company’s stock after purchasing an additional 16,069 shares during the quarter. Trajan Wealth LLC’s holdings in Conagra Brands were worth $4,494,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Conagra Brands during the 4th quarter worth $168,877,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Conagra Brands during the fourth quarter worth $110,704,000. Invesco Ltd. increased its holdings in Conagra Brands by 18.5% in the fourth quarter. Invesco Ltd. now owns 11,161,355 shares of the company’s stock valued at $309,728,000 after purchasing an additional 1,745,319 shares during the last quarter. Vanguard Group Inc. lifted its stake in Conagra Brands by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock valued at $1,631,671,000 after buying an additional 1,132,839 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Conagra Brands by 114.5% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,927,141 shares of the company’s stock worth $53,478,000 after buying an additional 1,028,631 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CAG shares. Wells Fargo & Company cut their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Barclays boosted their price target on shares of Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Monday, April 7th. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price objective on the stock. Finally, The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.90.

Conagra Brands Price Performance

NYSE:CAG opened at $25.31 on Friday. The stock has a market capitalization of $12.08 billion, a PE ratio of 24.82, a P/E/G ratio of 1.76 and a beta of 0.27. The firm has a fifty day simple moving average of $25.77 and a 200 day simple moving average of $26.91. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the business posted $0.69 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.53%. The ex-dividend date is Monday, April 28th. Conagra Brands’s payout ratio is presently 205.88%.

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.