King Luther Capital Management Corp Makes New $299,000 Investment in Conagra Brands, Inc. (NYSE:CAG)

King Luther Capital Management Corp acquired a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,190 shares of the company’s stock, valued at approximately $299,000.

Several other institutional investors have also modified their holdings of CAG. Innealta Capital LLC purchased a new position in Conagra Brands in the 2nd quarter valued at about $25,000. Chilton Capital Management LLC acquired a new stake in shares of Conagra Brands in the second quarter worth approximately $25,000. Hexagon Capital Partners LLC boosted its stake in shares of 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 acquiring an additional 420 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Conagra Brands during the first quarter worth approximately $42,000. Finally, Abich Financial Wealth Management LLC purchased a new position in Conagra Brands in the 3rd quarter valued at $47,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CAG. Wells Fargo & Company upped their target price on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Bank of America reduced their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock 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 stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Price Performance

NYSE:CAG opened at $27.42 on Friday. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The stock’s fifty day moving average is $29.67 and its two-hundred day moving average is $29.91. The company has a market capitalization of $13.09 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.80 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

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

Conagra Brands Dividend Announcement

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

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.