Kestra Private Wealth Services LLC Purchases 37,891 Shares of Conagra Brands $CAG

Kestra Private Wealth Services LLC grew its position in shares of Conagra Brands (NYSE:CAG) by 150.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,106 shares of the company’s stock after acquiring an additional 37,891 shares during the period. Kestra Private Wealth Services LLC’s holdings in Conagra Brands were worth $1,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in shares of Conagra Brands during the second quarter valued at about $26,000. True Wealth Design LLC raised its stake in shares of Conagra Brands by 844.4% during the third quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock valued at $29,000 after acquiring an additional 1,427 shares during the last quarter. MUFG Securities EMEA plc bought a new position in shares of Conagra Brands during the second quarter valued at about $29,000. Spire Wealth Management raised its stake in shares of Conagra Brands by 249.0% during the third quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock valued at $32,000 after acquiring an additional 1,230 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Conagra Brands during the third quarter valued at about $33,000. 83.75% of the stock is owned by institutional investors.

Insider Activity

In other Conagra Brands news, Director Richard H. Lenny acquired 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were acquired at an average price of $14.34 per share, with a total value of $358,500.00. Following the completion of the purchase, the director directly owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. The trade was a 12.23% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John J. Mulligan acquired 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were acquired at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the purchase, the director directly owned 20,728 shares of the company’s stock, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.57% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $14.07 on Friday. Conagra Brands has a 1 year low of $13.86 and a 1 year high of $24.30. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The company’s 50-day moving average is $16.15 and its 200 day moving average is $17.20. The stock has a market capitalization of $6.73 billion and a P/E ratio of -140.64.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the firm earned $0.51 EPS. Conagra Brands’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, sell-side analysts expect that Conagra Brands will post 1.7 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $1.40 annualized dividend and a yield of 10.0%. Conagra Brands’s payout ratio is presently -1,400.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CAG. Jefferies Financial Group lowered their price objective on shares of Conagra Brands from $16.00 to $15.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. Morgan Stanley reduced their price target on shares of Conagra Brands from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 23rd. Wall Street Zen upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, Zacks Research upgraded shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $15.80.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.