Capital Management Corp VA Acquires 48,795 Shares of Conagra Brands, Inc. (NYSE:CAG)

Capital Management Corp VA grew its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 19.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 302,907 shares of the company’s stock after purchasing an additional 48,795 shares during the quarter. Conagra Brands comprises 1.5% of Capital Management Corp VA’s portfolio, making the stock its 29th biggest holding. Capital Management Corp VA’s holdings in Conagra Brands were worth $8,406,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co purchased a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $29,000. Grove Bank & Trust grew its holdings in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands in the fourth quarter worth $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands in the fourth quarter worth $44,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 4.9 %

CAG stock opened at $27.25 on Friday. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The company has a market capitalization of $13.00 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The business’s 50 day moving average price is $25.83 and its two-hundred day moving average price is $28.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.71 earnings per share. As a group, analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Monday, January 27th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.14%. Conagra Brands’s dividend payout ratio (DPR) is currently 137.25%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CAG shares. Barclays cut their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. JPMorgan Chase & Co. reduced their price target on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday. Stifel Nicolaus dropped their price objective on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company reduced their target price on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $28.33.

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.