Conagra Brands $CAG Shares Bought by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC grew its holdings in shares of Conagra Brands (NYSE:CAG) by 5.6% in the 2nd quarter, Holdings Channel reports. The fund owned 376,956 shares of the company’s stock after acquiring an additional 20,037 shares during the period. Conagra Brands accounts for about 1.3% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 22nd biggest position. Gilman Hill Asset Management LLC’s holdings in Conagra Brands were worth $7,716,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CAG. D. E. Shaw & Co. Inc. acquired a new stake in shares of Conagra Brands during the fourth quarter valued at about $628,000. Lazard Asset Management LLC grew its stake in Conagra Brands by 3,661.1% in the fourth quarter. Lazard Asset Management LLC now owns 12,863 shares of the company’s stock worth $355,000 after purchasing an additional 12,521 shares in the last quarter. Nomura Holdings Inc. acquired a new position in Conagra Brands in the fourth quarter worth about $436,000. ProShare Advisors LLC grew its stake in Conagra Brands by 8.8% in the fourth quarter. ProShare Advisors LLC now owns 85,381 shares of the company’s stock worth $2,369,000 after purchasing an additional 6,895 shares in the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Conagra Brands by 12.0% in the fourth quarter. Rafferty Asset Management LLC now owns 41,425 shares of the company’s stock worth $1,150,000 after purchasing an additional 4,449 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CAG shares. JPMorgan Chase & Co. started coverage on Conagra Brands in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 price target for the company. Wells Fargo & Company decreased their price target on Conagra Brands from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 9th. Morgan Stanley decreased their price target on Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a research note on Friday, July 11th. Sanford C. Bernstein set a $21.00 price target on Conagra Brands and gave the stock a “market perform” rating in a research note on Friday, July 11th. Finally, UBS Group decreased their price target on Conagra Brands from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $22.17.

Conagra Brands Trading Up 1.7%

Conagra Brands stock opened at $18.98 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The firm has a market cap of $9.09 billion, a price-to-earnings ratio of 7.94, a price-to-earnings-growth ratio of 1.78 and a beta of 0.07. Conagra Brands has a 1 year low of $18.18 and a 1 year high of $33.04. The firm’s 50 day moving average price is $19.17 and its two-hundred day moving average price is $22.25.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.88 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were issued a $0.35 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.4%. Conagra Brands’s dividend payout ratio is presently 58.58%.

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.