Fourth Dimension Wealth LLC Buys New Position in Conagra Brands, Inc. (NYSE:CAG)

Fourth Dimension Wealth LLC bought a new stake in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,914 shares of the company’s stock, valued at approximately $53,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Conagra Brands by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company’s stock valued at $1,631,671,000 after buying an additional 1,132,839 shares during the last quarter. Geode Capital Management LLC raised its position in Conagra Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company’s stock valued at $325,096,000 after buying an additional 231,477 shares during the last quarter. Invesco Ltd. raised its position in Conagra Brands by 18.5% in the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company’s stock valued at $309,728,000 after buying an additional 1,745,319 shares during the last quarter. Two Sigma Advisers LP raised its position in Conagra Brands by 33.9% in the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company’s stock valued at $225,746,000 after buying an additional 2,058,000 shares during the last quarter. Finally, Norges Bank acquired a new stake in Conagra Brands in the 4th quarter valued at approximately $168,877,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $22.40 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 12 month low of $21.98 and a 12 month high of $33.24. The stock has a 50 day moving average of $24.74 and a 200-day moving average of $25.93. The company has a market capitalization of $10.69 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 6.25%. Conagra Brands’s dividend payout ratio is currently 205.88%.

Analyst Ratings Changes

CAG has been the topic of a number of recent research reports. Morgan Stanley initiated coverage on Conagra Brands in a research report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company lowered 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. Finally, The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $27.50.

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.