Segall Bryant & Hamill LLC Invests $1.11 Million in Conagra Brands, Inc. (NYSE:CAG)

Segall Bryant & Hamill LLC bought a new position in Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 34,200 shares of the company’s stock, valued at approximately $1,112,000.

Other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter worth approximately $25,000. Chilton Capital Management LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its stake in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Conagra Brands in the 1st quarter worth approximately $42,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of Conagra Brands in the 3rd quarter worth approximately $47,000. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on CAG shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Bank of America cut their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Six equities 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $31.63.

Conagra Brands Stock Performance

CAG stock opened at $27.42 on Friday. The company has a market cap of $13.09 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 2.80 and a beta of 0.34. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The stock’s fifty day moving average price is $29.67 and its 200-day moving average price is $29.91.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter last year, the business earned $0.66 earnings per share. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 5.11%. Conagra Brands’s dividend payout ratio is currently 135.92%.

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.