Hohimer Wealth Management LLC Grows Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Hohimer Wealth Management LLC increased its stake in Conagra Brands, Inc. (NYSE:CAG) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,073 shares of the company’s stock after purchasing an additional 642 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Conagra Brands were worth $4,360,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in shares of Conagra Brands during the 2nd quarter valued at $25,000. Chilton Capital Management LLC bought a new position in Conagra Brands in the second quarter valued at about $25,000. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Conagra Brands during the 3rd quarter valued at about $47,000. Finally, Kennebec Savings Bank bought a new stake in shares of Conagra Brands during the 3rd quarter valued at about $59,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.3 %

Shares of Conagra Brands stock opened at $27.84 on Wednesday. Conagra Brands, Inc. has a fifty-two week low of $26.21 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The company has a market capitalization of $13.28 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.80 and a beta of 0.31. The company has a fifty day moving average of $28.50 and a 200 day moving average of $29.63.

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

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands’s payout ratio is currently 135.92%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAG. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bank of America cut their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.