Adams Asset Advisors LLC Buys 6,815 Shares of Conagra Brands (NYSE:CAG)

Adams Asset Advisors LLC boosted its stake in Conagra Brands (NYSE:CAG) by 3.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,178 shares of the company’s stock after acquiring an additional 6,815 shares during the quarter. Adams Asset Advisors LLC’s holdings in Conagra Brands were worth $5,819,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Conagra Brands during the 4th quarter worth about $168,877,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Conagra Brands during the 4th quarter worth about $110,704,000. Two Sigma Advisers LP boosted its stake in shares of Conagra Brands by 33.9% during the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company’s stock worth $225,746,000 after buying an additional 2,058,000 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Conagra Brands by 51.6% during the 4th quarter. Deutsche Bank AG now owns 5,664,293 shares of the company’s stock worth $157,184,000 after buying an additional 1,928,883 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Conagra Brands by 18.5% during the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company’s stock worth $309,728,000 after buying an additional 1,745,319 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, June 2nd. Morgan Stanley assumed coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 price objective for the company. Barclays reduced their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating for the company in a research note on Monday, May 12th. UBS Group assumed coverage on shares of Conagra Brands in a research note on Monday. They set a “neutral” rating and a $22.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.36.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $21.49 on Thursday. The business’s 50 day moving average price is $23.42 and its two-hundred day moving average price is $25.28. The company has a market cap of $10.26 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 1.58 and a beta of 0.14. The company has a quick ratio of 0.23, a current ratio of 0.69 and a debt-to-equity ratio of 0.71. Conagra Brands has a twelve month low of $21.18 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. Conagra Brands’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. On average, analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.52%. The ex-dividend date was Monday, April 28th. Conagra Brands’s dividend payout ratio (DPR) is presently 205.88%.

Conagra Brands Company 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.