Red Spruce Capital LLC Acquires 4,136 Shares of Conagra Brands, Inc. (NYSE:CAG)

Red Spruce Capital LLC grew its holdings in Conagra Brands, Inc. (NYSE:CAG) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,366 shares of the company’s stock after purchasing an additional 4,136 shares during the quarter. Red Spruce Capital LLC’s holdings in Conagra Brands were worth $1,592,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in Conagra Brands in the 2nd quarter valued at about $6,831,000. Mercer Global Advisors Inc. ADV boosted its position in Conagra Brands by 27.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 76,898 shares of the company’s stock valued at $2,185,000 after buying an additional 16,700 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of Conagra Brands by 18.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 29,818 shares of the company’s stock worth $848,000 after acquiring an additional 4,697 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Conagra Brands by 28.1% during the second quarter. Summit Trail Advisors LLC now owns 10,913 shares of the company’s stock valued at $310,000 after acquiring an additional 2,393 shares during the period. Finally, Ensign Peak Advisors Inc boosted its holdings in Conagra Brands by 9.6% in the second quarter. Ensign Peak Advisors Inc now owns 634,308 shares of the company’s stock valued at $18,027,000 after acquiring an additional 55,790 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CAG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Citigroup lowered their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Barclays reduced their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Bank of America dropped their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. reduced their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average target price of $30.56.

Conagra Brands Price Performance

Shares of CAG opened at $25.70 on Wednesday. The stock has a 50 day simple moving average of $27.17 and a 200 day simple moving average of $29.22. Conagra Brands, Inc. has a 52-week low of $25.35 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market capitalization of $12.27 billion, a PE ratio of 25.19, a P/E/G ratio of 1.75 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Sell-side analysts predict that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.45%. Conagra Brands’s dividend payout ratio is currently 137.26%.

Conagra Brands Company 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.