&Partners Takes $319,000 Position in Conagra Brands, Inc. (NYSE:CAG)

&Partners bought a new stake in Conagra Brands, Inc. (NYSE:CAG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,225 shares of the company’s stock, valued at approximately $319,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. abrdn plc boosted its holdings in Conagra Brands by 16.8% in the 4th quarter. abrdn plc now owns 215,059 shares of the company’s stock worth $6,164,000 after acquiring an additional 30,915 shares during the period. Syon Capital LLC acquired a new stake in Conagra Brands during the 4th quarter valued at $287,000. Headlands Technologies LLC grew its holdings in Conagra Brands by 1,988.8% during the 4th quarter. Headlands Technologies LLC now owns 13,264 shares of the company’s stock valued at $380,000 after purchasing an additional 12,629 shares in the last quarter. PGGM Investments increased its stake in Conagra Brands by 9.7% during the 4th quarter. PGGM Investments now owns 20,571 shares of the company’s stock worth $590,000 after buying an additional 1,824 shares during the period. Finally, Intrust Bank NA acquired a new position in Conagra Brands in the 4th quarter worth $245,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CAG. Evercore ISI lowered their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Stifel Nicolaus dropped their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Citigroup reduced their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Finally, Wells Fargo & Company cut their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Nine analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.90.

Conagra Brands Price Performance

CAG opened at $30.63 on Monday. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The company’s 50-day moving average price is $29.48 and its 200 day moving average price is $29.46. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $31.82. The firm has a market cap of $14.64 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32.

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

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.57%. Conagra Brands’s dividend payout ratio is currently 191.78%.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.88% of the company’s stock.

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.