Great Valley Advisor Group Inc. Takes $214,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Great Valley Advisor Group Inc. bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,458 shares of the company’s stock, valued at approximately $214,000.

Several other hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. boosted its holdings in shares of Conagra Brands by 188.3% in the fourth quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock valued at $4,395,000 after buying an additional 100,141 shares during the period. The Manufacturers Life Insurance Company lifted its position in Conagra Brands by 120.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock valued at $23,572,000 after acquiring an additional 469,421 shares in the last quarter. Adams Asset Advisors LLC acquired a new position in Conagra Brands in the 4th quarter worth $7,690,000. Assenagon Asset Management S.A. increased its holdings in Conagra Brands by 368.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,016,249 shares of the company’s stock worth $29,126,000 after purchasing an additional 799,175 shares in the last quarter. Finally, 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 during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CAG shares. Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Citigroup upped their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Barclays boosted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus raised their target price 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. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.14.

Conagra Brands Stock Down 1.3 %

Shares of CAG stock opened at $30.19 on Tuesday. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $38.04. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The stock has a market cap of $14.43 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 3.07 and a beta of 0.38. The firm’s 50-day moving average is $29.54 and its 200-day moving average is $28.83.

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

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Monday, April 29th. Conagra Brands’s payout ratio is presently 70.35%.

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.