31,352 Shares in Conagra Brands, Inc. (NYSE:CAG) Acquired by Aigen Investment Management LP

Aigen Investment Management LP bought a new position in Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,352 shares of the company’s stock, valued at approximately $1,020,000.

Several other institutional investors have also added to or reduced their stakes in CAG. Empowered Funds LLC increased its position in shares of Conagra Brands by 21.4% during the 1st quarter. Empowered Funds LLC now owns 37,439 shares of the company’s stock valued at $1,110,000 after purchasing an additional 6,610 shares during the last quarter. Meeder Advisory Services Inc. raised its stake in Conagra Brands by 5.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 8,611 shares of the company’s stock worth $255,000 after acquiring an additional 478 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Conagra Brands by 4.1% during the first quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after purchasing an additional 445 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Conagra Brands by 3.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 502,891 shares of the company’s stock worth $14,906,000 after purchasing an additional 16,003 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Conagra Brands by 13.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 575,774 shares of the company’s stock valued at $17,066,000 after purchasing an additional 70,155 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Down 0.2 %

Shares of NYSE CAG opened at $27.68 on Wednesday. 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 business’s 50 day moving average price is $30.51 and its 200-day moving average price is $30.10. Conagra Brands, Inc. has a fifty-two week low of $26.62 and a fifty-two week high of $33.24. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 26.87, a PEG ratio of 2.86 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last released 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). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the firm earned $0.66 earnings per share. Conagra Brands’s quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is 135.92%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CAG. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Bank of America cut their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Conagra Brands has an average rating of “Hold” and an average target price 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.