Kennondale Capital Management LLC Buys Shares of 11,942 Conagra Brands, Inc. (NYSE:CAG)

Kennondale Capital Management LLC purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,942 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds also recently modified their holdings of the company. Brookstone Capital Management raised its position in shares of Conagra Brands by 18.4% during the fourth quarter. Brookstone Capital Management now owns 399,454 shares of the company’s stock worth $11,085,000 after purchasing an additional 62,187 shares during the period. Integrated Wealth Concepts LLC raised its position in shares of Conagra Brands by 110.8% during the third quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company’s stock worth $1,196,000 after purchasing an additional 19,329 shares during the period. State of Alaska Department of Revenue raised its position in shares of Conagra Brands by 41.0% during the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company’s stock worth $2,175,000 after purchasing an additional 22,790 shares during the period. Nordea Investment Management AB raised its position in shares of Conagra Brands by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after purchasing an additional 618,096 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of Conagra Brands by 21,015.0% during the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 1.7 %

CAG stock opened at $26.10 on Tuesday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $25.67 and a two-hundred day moving average price of $27.99. The company has a market cap of $12.46 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24.

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, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.71 earnings per share. Analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Barclays decreased their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Finally, Citigroup decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Eight research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.33.

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.