Conagra Brands, Inc. (NYSE:CAG) Position Lessened by Paragon Capital Management Ltd

Paragon Capital Management Ltd trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,555 shares of the company’s stock after selling 1,526 shares during the quarter. Paragon Capital Management Ltd’s holdings in Conagra Brands were worth $210,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Acadian Asset Management LLC bought a new position in Conagra Brands during the second quarter valued at about $511,000. Parallel Advisors LLC grew its position in Conagra Brands by 13.6% during the second quarter. Parallel Advisors LLC now owns 12,852 shares of the company’s stock worth $365,000 after buying an additional 1,535 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Conagra Brands by 3.5% during the second quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock worth $65,209,000 after buying an additional 78,487 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Conagra Brands by 17.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after buying an additional 633,794 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Conagra Brands during the second quarter valued at approximately $6,831,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAG. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Citigroup cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Barclays cut their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Seven investment 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 company’s stock. According to data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $30.56.

Conagra Brands Stock Performance

CAG stock opened at $25.58 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a 50 day moving average price of $27.35 and a 200 day moving average price of $29.28. Conagra Brands, Inc. has a fifty-two week low of $25.43 and a fifty-two week high of $33.24. The stock has a market capitalization of $12.21 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.76 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. Analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.26%.

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.