Signaturefd LLC Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

Signaturefd LLC raised its position in Conagra Brands, Inc. (NYSE:CAG) by 36.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,251 shares of the company’s stock after buying an additional 6,774 shares during the period. Signaturefd LLC’s holdings in Conagra Brands were worth $724,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CAG. Invesco Ltd. raised its stake in shares of Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock valued at $265,294,000 after purchasing an additional 2,619,372 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Conagra Brands by 14.0% in the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after purchasing an additional 1,737,380 shares in the last quarter. Barclays PLC raised its stake in shares of Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock valued at $102,792,000 after purchasing an additional 1,614,986 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after purchasing an additional 1,330,249 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Conagra Brands by 401.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company’s stock valued at $41,663,000 after purchasing an additional 1,216,389 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAG. Barclays increased their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Royal Bank of Canada reduced their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, January 3rd. Wells Fargo & Company raised their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Stifel Nicolaus upped their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Finally, Citigroup increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.14.

Conagra Brands Stock Performance

NYSE CAG opened at $31.27 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The firm has a market capitalization of $14.95 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 3.12 and a beta of 0.42. The company’s fifty day moving average is $28.98 and its two-hundred day moving average is $28.61. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $38.73.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $0.76 EPS. Equities research analysts forecast that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.48%. Conagra Brands’s payout ratio is currently 70.35%.

Conagra Brands 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.