LSV Asset Management Raises Position in Conagra Brands $CAG

LSV Asset Management raised its position in shares of Conagra Brands (NYSE:CAG) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 5,828,865 shares of the company’s stock after purchasing an additional 71,413 shares during the period. LSV Asset Management’s holdings in Conagra Brands were worth $100,898,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in Conagra Brands by 24.8% during the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company’s stock valued at $11,442,000 after purchasing an additional 131,287 shares in the last quarter. Leonteq Securities AG purchased a new stake in Conagra Brands during the fourth quarter valued at about $2,415,000. Wealth Enhancement Advisory Services LLC raised its position in Conagra Brands by 45.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock valued at $6,485,000 after purchasing an additional 106,891 shares in the last quarter. Sound Income Strategies LLC raised its position in Conagra Brands by 153.4% during the fourth quarter. Sound Income Strategies LLC now owns 406,666 shares of the company’s stock valued at $6,897,000 after purchasing an additional 246,178 shares in the last quarter. Finally, AE Wealth Management LLC raised its position in Conagra Brands by 13.7% during the third quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock valued at $13,185,000 after purchasing an additional 86,604 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 1.4%

CAG opened at $13.57 on Friday. The company has a market cap of $6.49 billion and a P/E ratio of -135.64. The business’s 50-day moving average price is $14.80 and its 200-day moving average price is $16.77. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. Conagra Brands has a 12 month low of $13.14 and a 12 month high of $23.09.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The firm’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. On average, equities analysts expect that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th will be issued a $0.35 dividend. The ex-dividend date is Thursday, April 30th. This represents a $1.40 annualized dividend and a dividend yield of 10.3%. Conagra Brands’s payout ratio is currently -1,400.00%.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 20th. TD Cowen lowered their price target on Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday, March 25th. Royal Bank Of Canada lowered their price target on Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, March 30th. Finally, Stifel Nicolaus decreased their price objective on Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $15.60.

Insider Activity

In other Conagra Brands news, Director Richard H. Lenny bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were bought at an average cost of $14.34 per share, with a total value of $358,500.00. Following the completion of the purchase, the director directly owned 229,340 shares of the company’s stock, valued at $3,288,735.60. This trade represents a 12.23% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John J. Mulligan bought 17,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was acquired at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the purchase, the director directly owned 20,728 shares of the company’s stock, valued at $296,617.68. The trade was a 542.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is currently owned by insiders.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.