SteelPeak Wealth LLC Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

SteelPeak Wealth LLC acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 8,582 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds have also modified their holdings of CAG. Pacer Advisors Inc. grew its holdings in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after buying an additional 10,604,367 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Conagra Brands by 106.4% in the 3rd quarter. Two Sigma Advisers LP now owns 6,077,000 shares of the company’s stock valued at $197,624,000 after purchasing an additional 3,133,200 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Conagra Brands in the third quarter valued at approximately $65,932,000. State Street Corp raised its stake in shares of Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after purchasing an additional 1,691,945 shares during the last quarter. Finally, Ilex Capital Partners UK LLP acquired a new stake in shares of Conagra Brands during the third quarter worth $46,990,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Conagra Brands Trading Down 1.5 %

Shares of CAG stock opened at $25.89 on Friday. The stock has a market cap of $12.36 billion, a P/E ratio of 25.38, a P/E/G ratio of 1.76 and a beta of 0.29. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a fifty-two week low of $25.06 and a fifty-two week high of $33.24. The business has a fifty day simple moving average of $26.97 and a 200-day simple moving average of $29.06.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 EPS. On average, analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal 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 issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 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.