7,935 Shares in Conagra Brands, Inc. (NYSE:CAG) Acquired by Kraft Davis & Associates LLC

Kraft Davis & Associates LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,935 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors also recently bought and sold shares of the company. Naples Money Management LLC purchased a new stake in shares of Conagra Brands in the fourth quarter valued at about $26,000. Federated Hermes Inc. lifted its stake in Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after buying an additional 1,330,249 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Conagra Brands by 6.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 42,016 shares of the company’s stock valued at $1,204,000 after buying an additional 2,528 shares during the last quarter. Telos Capital Management Inc. increased its position in Conagra Brands by 14.0% during the fourth quarter. Telos Capital Management Inc. now owns 8,347 shares of the company’s stock worth $239,000 after buying an additional 1,023 shares in the last quarter. Finally, Wealth Alliance raised its holdings in shares of Conagra Brands by 4.9% in the fourth quarter. Wealth Alliance now owns 28,866 shares of the company’s stock worth $827,000 after acquiring an additional 1,352 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.9 %

Shares of CAG traded up $0.26 during midday trading on Friday, reaching $30.62. 4,850,813 shares of the company were exchanged, compared to its average volume of 5,251,885. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $38.73. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 3.05 and a beta of 0.42. The stock has a 50-day moving average price of $28.83 and a 200-day moving average price of $28.51.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. Conagra Brands’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. Research analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.57%. Conagra Brands’s dividend payout ratio is currently 70.35%.

Wall Street Analyst Weigh In

A number of analysts recently commented on CAG shares. Royal Bank of Canada dropped their price objective on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 3rd. Wells Fargo & Company boosted their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Friday, April 5th. Barclays raised their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Citigroup increased their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $33.14.

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.