Brooklyn Investment Group Purchases New Position in Conagra Brands, Inc. (NYSE:CAG)

Brooklyn Investment Group acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,777 shares of the company’s stock, valued at approximately $123,000.

Several other large investors also recently added to or reduced their stakes in CAG. Innealta Capital LLC bought a new position in shares of Conagra Brands during the 2nd quarter valued at approximately $25,000. Chilton Capital Management LLC purchased a new position in Conagra Brands during the second quarter worth $25,000. Hexagon Capital Partners LLC boosted its stake in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. LRI Investments LLC bought a new position in Conagra Brands during the first quarter valued at $42,000. Finally, Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the 3rd quarter valued at about $47,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of CAG stock opened at $27.45 on Thursday. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.83 and a beta of 0.34. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The company’s 50 day moving average is $29.47 and its 200 day moving average is $29.85.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.10%. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Bank of America lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price objective on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Six investment 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.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.63.

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.