Everence Capital Management Inc. Increases Stake in Conagra Brands, Inc. (NYSE:CAG)

Everence Capital Management Inc. lifted its position in Conagra Brands, Inc. (NYSE:CAG) by 14.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,350 shares of the company’s stock after buying an additional 2,280 shares during the period. Everence Capital Management Inc.’s holdings in Conagra Brands were worth $509,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC raised 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 purchasing an additional 420 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Conagra Brands during the third quarter valued at approximately $47,000. Kennebec Savings Bank bought a new position in Conagra Brands in the third quarter worth approximately $59,000. Quarry LP lifted its holdings in Conagra Brands by 229.7% during the third quarter. Quarry LP now owns 1,820 shares of the company’s stock worth $59,000 after buying an additional 1,268 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its position in Conagra Brands by 27,057.1% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,901 shares of the company’s stock valued at $62,000 after acquiring an additional 1,894 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Bank of America reduced their price objective 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. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average target price of $30.56.

Conagra Brands Stock Down 0.1 %

CAG stock opened at $27.65 on Monday. The stock has a market capitalization of $13.20 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The firm has a 50 day moving average of $27.81 and a 200 day moving average of $29.42.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts forecast that Conagra Brands, Inc. will post 2.58 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is 137.25%.

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.