1832 Asset Management L.P. Purchases 844 Shares of Conagra Brands, Inc. (NYSE:CAG)

1832 Asset Management L.P. grew its position in Conagra Brands, Inc. (NYSE:CAG) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,584 shares of the company’s stock after acquiring an additional 844 shares during the quarter. 1832 Asset Management L.P.’s holdings in Conagra Brands were worth $1,885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Conagra Brands by 31.7% in the 4th quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $55,000 after purchasing an additional 473 shares during the last quarter. Caprock Group LLC boosted its stake in Conagra Brands by 6.8% during the fourth quarter. Caprock Group LLC now owns 16,648 shares of the company’s stock worth $477,000 after buying an additional 1,058 shares during the period. Quent Capital LLC increased its position in Conagra Brands by 313.4% during the fourth quarter. Quent Capital LLC now owns 1,666 shares of the company’s stock valued at $48,000 after acquiring an additional 1,263 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Conagra Brands by 3.2% in the fourth quarter. Fifth Third Bancorp now owns 21,986 shares of the company’s stock valued at $630,000 after acquiring an additional 689 shares during the period. Finally, Secure Asset Management LLC lifted its holdings in shares of Conagra Brands by 32.8% in the 4th quarter. Secure Asset Management LLC now owns 11,063 shares of the company’s stock worth $317,000 after acquiring an additional 2,735 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

CAG traded up $0.41 on Friday, reaching $29.94. 3,518,765 shares of the stock were exchanged, compared to its average volume of 4,617,913. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The company’s 50-day moving average price is $29.21 and its 200 day moving average price is $29.27. The firm has a market capitalization of $14.32 billion, a PE ratio of 41.01, a PEG ratio of 2.62 and a beta of 0.32. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.39.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 earnings per share. As a group, sell-side analysts forecast that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be paid a $0.35 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.68%. Conagra Brands’s payout ratio is presently 191.78%.

Insider Activity at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

CAG has been the topic of a number of recent analyst reports. Royal Bank of Canada reduced their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Citigroup reduced their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Wells Fargo & Company dropped their price objective on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Barclays lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Stifel Nicolaus reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.18.

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.