Entropy Technologies LP Buys New Position in Conagra Brands, Inc. (NYSE:CAG)

Entropy Technologies LP purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 44,356 shares of the company’s stock, valued at approximately $1,231,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands in the fourth quarter valued at approximately $28,000. Grove Bank & Trust boosted its position in Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the period. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands in the third quarter worth $47,000. Kennebec Savings Bank purchased a new stake in shares of Conagra Brands during the third quarter worth $59,000. Finally, Quarry LP raised its stake in shares of Conagra Brands by 229.7% in the third quarter. Quarry LP now owns 1,820 shares of the company’s stock valued at $59,000 after acquiring an additional 1,268 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on CAG. Barclays lowered their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Stifel Nicolaus cut their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, Citigroup reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Seven 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.33.

Conagra Brands Stock Down 1.3 %

Shares of NYSE:CAG opened at $24.51 on Tuesday. The firm has a 50 day simple moving average of $26.66 and a 200-day simple moving average of $28.85. Conagra Brands, Inc. has a twelve month low of $24.35 and a twelve month high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $11.70 billion, a PE ratio of 24.02, a P/E/G ratio of 1.70 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last announced 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 analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, equities analysts predict that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.71%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

About Conagra Brands

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.