OFI Invest Asset Management Acquires Shares of 2,853 Conagra Brands, Inc. (NYSE:CAG)

OFI Invest Asset Management acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,853 shares of the company’s stock, valued at approximately $76,000.

Other large investors also recently modified their holdings of the company. Empirical Finance LLC grew its position in shares of Conagra Brands by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after buying an additional 362 shares during the last quarter. Grove Bank & Trust grew its position 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 buying an additional 447 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after buying an additional 501 shares during the last quarter. International Private Wealth Advisors LLC grew its position in shares of Conagra Brands by 5.2% in the 4th quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock valued at $295,000 after buying an additional 527 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its position in shares of Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after buying an additional 529 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CAG shares. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Bank of America dropped their target price 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. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Finally, Citigroup decreased their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Eight equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $28.33.

Conagra Brands Stock Up 1.5 %

CAG stock opened at $27.63 on Tuesday. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The stock has a market capitalization of $13.19 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. 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 company has a fifty day moving average of $25.82 and a 200-day moving average of $28.17.

Conagra Brands (NYSE:CAG) last released its 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 net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter last year, the business earned $0.71 EPS. The business’s revenue was down .4% on a year-over-year basis. As a group, analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Stockholders of record on Monday, January 27th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.07%. The ex-dividend date was Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

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.