Aaron Wealth Advisors LLC Makes New Investment in Conagra Brands $CAG

Aaron Wealth Advisors LLC acquired a new position in shares of Conagra Brands (NYSE:CAG – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor acquired 10,201 shares of the company’s stock, valued at approximately $209,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. D. E. Shaw & Co. Inc. acquired a new stake in Conagra Brands during the fourth quarter worth approximately $628,000. Lazard Asset Management LLC raised its holdings in Conagra Brands by 3,661.1% during the fourth quarter. Lazard Asset Management LLC now owns 12,863 shares of the company’s stock worth $355,000 after purchasing an additional 12,521 shares in the last quarter. Tidal Investments LLC raised its holdings in Conagra Brands by 29.7% during the fourth quarter. Tidal Investments LLC now owns 43,573 shares of the company’s stock worth $1,209,000 after purchasing an additional 9,966 shares in the last quarter. Vident Advisory LLC raised its holdings in Conagra Brands by 21.5% during the fourth quarter. Vident Advisory LLC now owns 55,699 shares of the company’s stock worth $1,546,000 after purchasing an additional 9,869 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in Conagra Brands during the fourth quarter worth approximately $795,000. Institutional investors and hedge funds own 83.75% of the company’s stock.
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Conagra Brands Stock Performance
NYSE:CAG opened at $18.53 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $19.10 and a two-hundred day moving average price of $22.13. Conagra Brands has a twelve month low of $18.18 and a twelve month high of $32.90. The company has a market capitalization of $8.87 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 1.79 and a beta of 0.07.
Conagra Brands (NYSE:CAG – Get Free Report) last posted its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter last year, the business posted $0.61 earnings per share. The business’s revenue was down 4.3% compared to the same quarter last year. As a group, research analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.
Conagra Brands Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Wednesday, July 30th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 7.6%. The ex-dividend date was Wednesday, July 30th. Conagra Brands’s dividend payout ratio (DPR) is 58.58%.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on the stock. Royal Bank Of Canada cut their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Friday, July 11th. JPMorgan Chase & Co. started coverage on shares of Conagra Brands in a research report on Wednesday, August 20th. They set a “neutral” rating and a $20.00 target price on the stock. UBS Group lowered their target price on shares of Conagra Brands from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, July 11th. Morgan Stanley lowered their target price on shares of Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Friday, July 11th. Finally, Stifel Nicolaus lowered their target price on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.17.
Check Out Our Latest Stock Analysis on Conagra Brands
Conagra Brands Profile
(Free Report)
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.
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