Wedge Capital Management L L P NC Acquires 12,363 Shares of Conagra Brands, Inc. (NYSE:CAG)

Wedge Capital Management L L P NC raised its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.5% during the 4th quarter, Holdings Channel reports. The fund owned 130,098 shares of the company’s stock after purchasing an additional 12,363 shares during the period. Wedge Capital Management L L P NC’s holdings in Conagra Brands were worth $3,610,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CAG. Pacer Advisors Inc. lifted its position in Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Conagra Brands by 106.4% during the third quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock worth $197,624,000 after purchasing an additional 3,133,200 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Conagra Brands by 1,362.6% in the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after buying an additional 2,242,186 shares during the last quarter. Holocene Advisors LP purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $65,932,000. Finally, State Street Corp boosted its holdings in Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CAG has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Citigroup dropped 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 Wednesday, December 11th. JPMorgan Chase & Co. reduced their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Barclays dropped their price target 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. Finally, Bank of America reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands has an average rating of “Hold” and an average price target of $30.56.

Conagra Brands Trading Up 0.1 %

CAG opened at $25.83 on Monday. The business has a fifty day moving average price of $27.25 and a 200 day moving average price of $29.25. 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 stock has a market capitalization of $12.33 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.76 and a beta of 0.29. Conagra Brands, Inc. has a 12 month low of $25.35 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the company earned $0.71 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.42%. Conagra Brands’s dividend payout ratio is currently 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.