Landscape Capital Management L.L.C. Acquires Shares of 72,993 Conagra Brands, Inc. (NYSE:CAG)

Landscape Capital Management L.L.C. acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, HoldingsChannel reports. The fund acquired 72,993 shares of the company’s stock, valued at approximately $2,374,000.

A number of other hedge funds have also recently modified their holdings of CAG. Innealta Capital LLC acquired a new position in Conagra Brands in the second quarter valued at approximately $25,000. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands during the 2nd quarter valued at approximately $25,000. Hexagon Capital Partners LLC lifted its stake in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the period. LRI Investments LLC purchased a new stake in Conagra Brands during the first quarter worth $42,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in Conagra Brands during the third quarter valued at $47,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $27.12 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. The firm has a market capitalization of $12.94 billion, a PE ratio of 26.33, a P/E/G ratio of 2.73 and a beta of 0.34. The business’s 50 day moving average price is $29.77 and its 200-day moving average price is $29.93.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.16%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America cut their price objective on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group initiated coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Six 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.