Premier Path Wealth Partners LLC Buys 3,693 Shares of Conagra Brands (NYSE:CAG)

Premier Path Wealth Partners LLC lifted its holdings in Conagra Brands (NYSE:CAG) by 8.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,081 shares of the company’s stock after purchasing an additional 3,693 shares during the period. Premier Path Wealth Partners LLC’s holdings in Conagra Brands were worth $1,309,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CAG. Savant Capital LLC lifted its stake in shares of Conagra Brands by 28.1% in the 4th quarter. Savant Capital LLC now owns 8,337 shares of the company’s stock worth $231,000 after purchasing an additional 1,831 shares during the period. Principal Securities Inc. lifted its stake in shares of Conagra Brands by 112.2% in the 4th quarter. Principal Securities Inc. now owns 3,275 shares of the company’s stock worth $91,000 after purchasing an additional 1,732 shares during the period. Allworth Financial LP lifted its stake in shares of Conagra Brands by 35.8% in the 4th quarter. Allworth Financial LP now owns 5,214 shares of the company’s stock worth $132,000 after purchasing an additional 1,375 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock worth $2,346,000 after purchasing an additional 501 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in shares of Conagra Brands by 4.4% in the 4th quarter. D.A. Davidson & CO. now owns 194,693 shares of the company’s stock worth $5,403,000 after purchasing an additional 8,222 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.3%

Shares of CAG opened at $21.49 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23. Conagra Brands has a 1 year low of $21.18 and a 1 year high of $33.24. The company has a 50 day simple moving average of $23.42 and a two-hundred day simple moving average of $25.28. The firm has a market cap of $10.26 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 1.58 and a beta of 0.14.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.92 billion. During the same period last year, the business earned $0.69 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, equities analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.52%. The ex-dividend date was Monday, April 28th. Conagra Brands’s dividend payout ratio (DPR) is presently 205.88%.

Analysts Set New Price Targets

CAG has been the topic of several recent research reports. UBS Group initiated coverage on shares of Conagra Brands in a research note on Monday. They issued a “neutral” rating and a $22.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Tuesday, May 6th. Barclays reduced their target price on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, May 12th. Finally, Bank of America lowered shares of Conagra Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.36.

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.