Fisher Funds Management LTD Takes $1.94 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Fisher Funds Management LTD acquired a new position in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 69,950 shares of the company’s stock, valued at approximately $1,936,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. Brookstone Capital Management grew its position in Conagra Brands by 18.4% in the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock worth $11,085,000 after acquiring an additional 62,187 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in shares of Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock valued at $1,196,000 after purchasing an additional 19,329 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock worth $2,175,000 after purchasing an additional 22,790 shares in the last quarter. Nordea Investment Management AB increased its position in Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after buying an additional 618,096 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in Conagra Brands during the third quarter valued at about $1,020,000. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAG. Wells Fargo & Company decreased their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Friday, December 20th. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $29.78.

Conagra Brands Price Performance

NYSE:CAG opened at $25.82 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a fifty day moving average price of $26.15 and a 200 day moving average price of $28.52. The stock has a market cap of $12.32 billion, a P/E ratio of 25.31, a PEG ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the firm posted $0.71 EPS. The business’s revenue was down .4% compared to the same quarter last year. Analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.42%. Conagra Brands’s dividend payout ratio is currently 137.25%.

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.