Tectonic Advisors LLC Raises Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Tectonic Advisors LLC lifted its stake in Conagra Brands, Inc. (NYSE:CAG) by 21.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,807 shares of the company’s stock after purchasing an additional 3,521 shares during the quarter. Tectonic Advisors LLC’s holdings in Conagra Brands were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CAG. Brookstone Capital Management raised its stake in Conagra Brands by 18.4% during the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock worth $11,085,000 after acquiring an additional 62,187 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Conagra Brands by 110.8% in the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after purchasing an additional 19,329 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Conagra Brands by 5.3% in the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after purchasing an additional 618,096 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of Conagra Brands during the 3rd quarter valued at $1,020,000. Finally, Pacer Advisors Inc. lifted its stake in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after buying an additional 10,604,367 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

CAG stock opened at $25.10 on Thursday. Conagra Brands, Inc. has a 52 week low of $24.85 and a 52 week high of $33.24. The firm has a market capitalization of $11.98 billion, a P/E ratio of 24.61, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The company has a fifty day simple moving average of $26.83 and a two-hundred day simple moving average of $28.96. 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 (NYSE:CAG) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter last year, the business posted $0.71 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. Analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.58%. Conagra Brands’s payout ratio is presently 137.25%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Citigroup dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Barclays dropped their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average 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.