Naples Money Management LLC Purchases New Position in Conagra Brands, Inc. (NYSE:CAG)

Naples Money Management LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 919 shares of the company’s stock, valued at approximately $26,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. grew its stake in Conagra Brands by 188.3% during the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after buying an additional 100,141 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Conagra Brands by 120.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock valued at $23,572,000 after purchasing an additional 469,421 shares during the last quarter. Adams Asset Advisors LLC acquired a new stake in Conagra Brands during the 4th quarter worth $7,690,000. Assenagon Asset Management S.A. grew its position in Conagra Brands by 368.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,016,249 shares of the company’s stock worth $29,126,000 after purchasing an additional 799,175 shares during the last quarter. Finally, Invesco Ltd. grew its position in Conagra Brands by 37.1% during the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after purchasing an additional 2,619,372 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.9 %

Shares of CAG stock opened at $30.63 on Friday. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.73. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $28.83 and a 200-day simple moving average of $28.51. The stock has a market cap of $14.64 billion, a P/E ratio of 15.39, a P/E/G ratio of 3.05 and a beta of 0.42.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 earnings per share. On average, analysts forecast that Conagra Brands, Inc. will post 2.62 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, May 30th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.

Wall Street Analysts Forecast Growth

CAG has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Barclays lifted their target price on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Wells Fargo & Company upped their price target on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Citigroup lifted their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada cut their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 3rd. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $33.14.

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.