Landscape Capital Management L.L.C. Invests $2.37 Million in Conagra Brands, Inc. (NYSE:CAG)

Landscape Capital Management L.L.C. bought a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 72,993 shares of the company’s stock, valued at approximately $2,374,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Conagra Brands during the second quarter valued at $25,000. Chilton Capital Management LLC bought a new position in shares of Conagra Brands in the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC lifted its holdings in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares during the last quarter. LRI Investments LLC bought a new stake in Conagra Brands during the first quarter worth approximately $42,000. Finally, Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands during the third quarter valued at approximately $47,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

CAG stock opened at $27.12 on Friday. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24. The firm’s 50-day moving average is $29.77 and its 200 day moving average is $29.93. The company has a market capitalization of $12.94 billion, a PE ratio of 26.33, a P/E/G ratio of 2.73 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same period last year, the business posted $0.66 earnings per share. The business’s revenue was down 3.8% compared to the same quarter last year. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st 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 5.16%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is 135.92%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAG. Wells Fargo & Company lifted their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 price objective for the company. Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $31.63.

About Conagra Brands

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.