48,910 Shares in Conagra Brands $CAG Bought by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC purchased a new position in Conagra Brands (NYSE:CAG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 48,910 shares of the company’s stock, valued at approximately $847,000.

A number of other institutional investors also recently bought and sold shares of CAG. Norges Bank bought a new stake in Conagra Brands in the fourth quarter worth $145,656,000. Two Sigma Investments LP lifted its position in Conagra Brands by 239.6% in the third quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock worth $152,837,000 after buying an additional 5,889,542 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Conagra Brands by 245.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock worth $141,611,000 after buying an additional 5,495,503 shares during the last quarter. AQR Capital Management LLC lifted its position in Conagra Brands by 216.2% in the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock worth $135,318,000 after buying an additional 5,100,424 shares during the last quarter. Finally, Qube Research & Technologies Ltd lifted its position in Conagra Brands by 241.9% in the third quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock worth $108,313,000 after buying an additional 4,185,486 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CAG shares. Barclays lowered their price target on Conagra Brands from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Sanford C. Bernstein lowered their price target on Conagra Brands from $18.00 to $16.00 and set a “market perform” rating for the company in a research report on Thursday, April 2nd. Royal Bank Of Canada lowered their price target on Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating for the company in a research report on Thursday, April 2nd. Weiss Ratings downgraded Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus lowered their price target on Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $15.47.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $13.12 on Tuesday. The firm has a market cap of $6.27 billion, a P/E ratio of -131.14 and a beta of -0.02. 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 $13.10 and a 12 month high of $22.81. The stock’s fifty day moving average price is $14.48 and its 200-day moving average price is $16.61.

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

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.40 annualized dividend and a dividend yield of 10.7%. Conagra Brands’s dividend payout ratio (DPR) is currently -1,400.00%.

Insider Buying and Selling at Conagra Brands

In other news, Director Richard H. Lenny purchased 25,000 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were purchased at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the purchase, the director owned 229,340 shares in the company, valued at approximately $3,288,735.60. This represents a 12.23% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John J. Mulligan purchased 17,500 shares of the business’s stock in a transaction dated Tuesday, April 14th. The shares were purchased at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the purchase, the director owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. This trade represents a 542.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.57% of the company’s stock.

Conagra Brands 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.