Y.D. More Investments Ltd Acquires 612 Shares of Conagra Brands, Inc. (NYSE:CAG)

Y.D. More Investments Ltd raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,411 shares of the company’s stock after buying an additional 612 shares during the quarter. Y.D. More Investments Ltd’s holdings in Conagra Brands were worth $122,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp lifted its stake in Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after acquiring an additional 1,691,945 shares during the period. Nordea Investment Management AB increased its position in Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares during the period. Geode Capital Management LLC raised its holdings in Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after purchasing an additional 196,100 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Conagra Brands by 21,015.0% in the 3rd 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. Finally, Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Conagra Brands by 2.0% during the 3rd 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 in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

CAG opened at $25.10 on Thursday. The firm has a market cap of $11.98 billion, a PE ratio of 24.61, a P/E/G ratio of 1.76 and a beta of 0.28. The stock has a 50-day moving average price of $26.83 and a 200-day moving average price of $28.96. Conagra Brands, Inc. has a 1 year low of $24.85 and a 1 year high of $33.24. 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 (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

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

Wall Street Analyst Weigh In

CAG has been the subject of a number of research reports. Citigroup lowered their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. 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. Barclays reduced their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Bank of America lowered their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and a consensus price target of $30.33.

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.