GAMMA Investing LLC Purchases New Position in Conagra Brands, Inc. (NYSE:CAG)

GAMMA Investing LLC acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,545 shares of the company’s stock, valued at approximately $191,000.

Other institutional investors have also recently bought and sold shares of the company. Naples Money Management LLC bought a new stake in Conagra Brands in the 4th quarter valued at about $26,000. Thompson Investment Management Inc. boosted its holdings in Conagra Brands by 100.0% in 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 bought a new stake in Conagra Brands in the 3rd quarter valued at about $33,000. Parkside Financial Bank & Trust boosted its holdings in Conagra Brands by 48.1% in 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 bought a new stake in Conagra Brands in the 3rd quarter valued at about $47,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $31.07 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73. The firm has a 50 day simple moving average of $29.23 and a 200 day simple moving average of $28.67. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 3.14 and a beta of 0.42.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (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 firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the company posted $0.76 EPS. The company’s revenue was down 1.7% on a year-over-year basis. Research analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm 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 $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 70.35%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CAG. 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 report on Friday, April 5th. Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Royal Bank of Canada cut 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 report on Wednesday, January 3rd. Barclays upped their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Citigroup upped their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus 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.