Trajan Wealth LLC Has $4.49 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Trajan Wealth LLC lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 11.0% during the 4th quarter, HoldingsChannel reports. The fund owned 161,947 shares of the company’s stock after acquiring an additional 16,069 shares during the quarter. Trajan Wealth LLC’s holdings in Conagra Brands were worth $4,494,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Bessemer Group Inc. raised its position in shares of Conagra Brands by 0.6% in the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock valued at $2,166,000 after buying an additional 429 shares in the last quarter. Grove Bank & Trust raised its holdings in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. Summit Financial Wealth Advisors LLC raised its holdings in Conagra Brands by 1.3% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock valued at $1,030,000 after acquiring an additional 500 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Conagra Brands by 0.6% during 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 in the last quarter. Finally, Xponance Inc. increased its position in shares of Conagra Brands by 0.8% in the fourth quarter. Xponance Inc. now owns 65,680 shares of the company’s stock worth $1,823,000 after purchasing an additional 505 shares during the period. 83.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. Barclays increased their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, April 7th. Stifel Nicolaus lowered their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Morgan Stanley initiated coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target on the stock. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Hold” and a consensus target price of $27.90.

Conagra Brands Stock Performance

Conagra Brands stock opened at $25.31 on Friday. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The firm’s fifty day moving average price is $25.77 and its 200-day moving average price is $26.91. The stock has a market cap of $12.08 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

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

Conagra Brands Announces Dividend

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

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.