Donoghue Forlines LLC Invests $1.59 Million in Conagra Brands, Inc. (NYSE:CAG)

Donoghue Forlines LLC 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 fund acquired 57,418 shares of the company’s stock, valued at approximately $1,593,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its stake in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $28,000. Grove Bank & Trust increased its holdings in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands during the third quarter valued at about $47,000. Finally, Kennebec Savings Bank acquired a new position in Conagra Brands during the 3rd quarter valued at about $59,000. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on CAG shares. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company cut their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Barclays decreased their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Finally, BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average price target of $30.56.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $25.15 on Thursday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $27.12 and a two-hundred day simple moving average of $29.19. Conagra Brands, Inc. has a 1-year low of $25.14 and a 1-year high of $33.24. The firm has a market cap of $12.00 billion, a price-to-earnings ratio of 24.68, a price-to-earnings-growth ratio of 1.74 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share 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 the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company earned $0.71 EPS. The firm’s quarterly revenue was down .4% compared to the same quarter last year. Analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.57%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is currently 137.26%.

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.