Novem Group Invests $282,000 in Conagra Brands, Inc. (NYSE:CAG)

Novem Group bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 10,180 shares of the company’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riverview Trust Co purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $41,000. Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $44,000. Asset Planning Inc purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $53,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CAG. Morgan Stanley began coverage on Conagra Brands in a research report on Monday, March 24th. They set an “equal weight” rating and a $27.00 target price on the stock. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Stifel Nicolaus dropped their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Barclays dropped their price target on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, May 6th. Nine analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $27.50.

Conagra Brands Trading Down 0.8%

Shares of CAG stock opened at $22.30 on Friday. The business’s 50 day moving average is $24.81 and its two-hundred day moving average is $25.97. Conagra Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $33.24. The company has a market capitalization of $10.65 billion, a P/E ratio of 21.86, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. Equities analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date is Monday, April 28th. Conagra Brands’s dividend payout ratio is presently 205.88%.

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.