Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Stonegate Investment Group LLC

Stonegate Investment Group LLC lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 24.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,262 shares of the company’s stock after acquiring an additional 6,165 shares during the period. Stonegate Investment Group LLC’s holdings in Conagra Brands were worth $868,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CAG. Public Sector Pension Investment Board raised its position in Conagra Brands by 65.8% in the second quarter. Public Sector Pension Investment Board now owns 18,000 shares of the company’s stock valued at $512,000 after purchasing an additional 7,143 shares during the period. MBB Public Markets I LLC purchased a new stake in shares of Conagra Brands during the 2nd quarter valued at about $1,003,000. Creative Planning raised its holdings in shares of Conagra Brands by 3.3% during the 2nd quarter. Creative Planning now owns 155,574 shares of the company’s stock valued at $4,421,000 after buying an additional 4,914 shares during the period. Kimelman & Baird LLC acquired a new position in Conagra Brands during the 2nd quarter worth approximately $224,000. Finally, EP Wealth Advisors LLC boosted its holdings in Conagra Brands by 10.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 10,980 shares of the company’s stock worth $312,000 after acquiring an additional 1,018 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Down 2.3 %

Shares of Conagra Brands stock opened at $25.62 on Wednesday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $27.04 and a 200 day moving average price of $29.12. Conagra Brands, Inc. has a fifty-two week low of $25.06 and a fifty-two week high of $33.24. The firm has a market cap of $12.23 billion, a P/E ratio of 25.11, a P/E/G ratio of 1.72 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same period in the prior year, the company posted $0.71 EPS. The business’s revenue was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is presently 137.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CAG shares. Stifel Nicolaus reduced their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Barclays decreased their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Finally, Bank of America cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Seven investment 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.33.

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.