OneDigital Investment Advisors LLC Takes $224,000 Position in Conagra Brands, Inc. (NYSE:CAG)

OneDigital Investment Advisors LLC purchased a new position in Conagra Brands, Inc. (NYSE:CAG) during the third quarter, Holdings Channel.com reports. The fund purchased 6,892 shares of the company’s stock, valued at approximately $224,000.

Other institutional investors have also bought and sold shares of the company. KBC Group NV lifted its position in shares of Conagra Brands by 5.7% during the 3rd quarter. KBC Group NV now owns 77,815 shares of the company’s stock valued at $2,531,000 after buying an additional 4,193 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Conagra Brands by 2.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 173,778 shares of the company’s stock valued at $5,651,000 after acquiring an additional 3,537 shares during the period. First Heartland Consultants Inc. purchased a new stake in Conagra Brands during the third quarter valued at about $227,000. Aigen Investment Management LP bought a new position in Conagra Brands during the third quarter worth about $1,020,000. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Conagra Brands by 2.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,225,637 shares of the company’s stock worth $39,858,000 after purchasing an additional 30,685 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $27.43 on Friday. The stock’s 50-day simple moving average is $29.67 and its two-hundred day simple moving average is $29.91. Conagra Brands, Inc. has a twelve month low of $26.21 and a twelve month high of $33.24. The firm has a market capitalization of $13.09 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.73 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share 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 the consensus estimate of $2.84 billion. During the same quarter last year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.10%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.63.

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.