6,545 Shares in Conagra Brands, Inc. (NYSE:CAG) Bought by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,545 shares of the company’s stock, valued at approximately $191,000.

Other hedge funds have also added to or reduced their stakes in the company. Naples Money Management LLC purchased a new position in Conagra Brands during the 4th quarter valued at $26,000. Thompson Investment Management Inc. increased its position in Conagra Brands by 100.0% during the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Authentikos Wealth Advisory LLC purchased a new position in Conagra Brands during the 3rd quarter valued at $33,000. Parkside Financial Bank & Trust increased its position in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after purchasing an additional 454 shares during the period. Finally, Peoples Bank KS purchased a new position in Conagra Brands during the 3rd quarter valued at $47,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Conagra Brands Stock Performance

Shares of CAG stock opened at $31.07 on Friday. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73. The company’s 50-day moving average is $29.23 and its 200 day moving average is $28.67. The company has a market capitalization of $14.85 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 3.14 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm posted $0.76 EPS. Conagra Brands’s revenue for the quarter was down 1.7% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors 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 4.51%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Conagra Brands 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.