Brown Lisle Cummings Inc. Acquires 1,873 Shares of Conagra Brands, Inc. (NYSE:CAG)

Brown Lisle Cummings Inc. grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 85.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,061 shares of the company’s stock after buying an additional 1,873 shares during the quarter. Brown Lisle Cummings Inc.’s holdings in Conagra Brands were worth $113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands during the 4th quarter valued at about $28,000. Hexagon Capital Partners LLC grew its holdings in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares in the last quarter. Grove Bank & Trust raised its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the 3rd quarter valued at $47,000. Finally, ST Germain D J Co. Inc. boosted its holdings in Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after acquiring an additional 529 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CAG shares. Bank of America dropped their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Stifel Nicolaus cut their price objective on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Finally, Citigroup decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Trading Down 1.7 %

Shares of CAG opened at $25.03 on Wednesday. Conagra Brands, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $33.24. The business has a 50-day moving average of $26.88 and a 200 day moving average of $28.99. The firm has a market cap of $11.94 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The firm 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 company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.59%. 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.