14,640 Shares in Conagra Brands, Inc. (NYSE:CAG) Bought by Sargent Investment Group LLC

Sargent Investment Group LLC purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,640 shares of the company’s stock, valued at approximately $385,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of Conagra Brands by 7.4% during the 3rd quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after acquiring an additional 1,691,945 shares during the period. Nordea Investment Management AB lifted its stake in Conagra Brands by 5.3% in the 4th 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 in the last quarter. Geode Capital Management LLC raised its position in Conagra Brands by 1.7% in the third quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after purchasing an additional 196,100 shares during the period. Pacer Advisors Inc. raised its position in Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Conagra Brands by 2.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after purchasing an additional 122,590 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CAG. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Citigroup cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Wells Fargo & Company cut their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Barclays cut their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Finally, Bank of America cut their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Seven 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 MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $30.33.

Conagra Brands Stock Performance

NYSE:CAG opened at $25.10 on Thursday. The firm has a market capitalization of $11.98 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The business’s fifty day moving average price is $26.83 and its 200 day moving average price is $28.96. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 12 month low of $24.85 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is 137.25%.

Conagra Brands Company 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.