Tobam Has $734,000 Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Tobam cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 43.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,458 shares of the company’s stock after selling 20,398 shares during the period. Tobam’s holdings in Conagra Brands were worth $734,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands in the fourth quarter valued at about $28,000. Hexagon Capital Partners LLC lifted its holdings in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of 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 purchasing an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Conagra Brands during the 3rd quarter valued at approximately $47,000. Finally, ST Germain D J Co. Inc. increased its position 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 purchasing an additional 529 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of CAG opened at $24.99 on Friday. The business has a 50-day moving average of $26.78 and a 200-day moving average of $28.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market capitalization of $11.93 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 1 year low of $24.85 and a 1 year high of $33.24.

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

Conagra Brands Announces Dividend

The firm 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 $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. 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 report on Friday, January 24th. Citigroup lowered their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Finally, Bank of America reduced their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.33.

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.