Syon Capital LLC Acquires Shares of 10,022 Conagra Brands, Inc. (NYSE:CAG)

Syon Capital LLC bought a new stake in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,022 shares of the company’s stock, valued at approximately $287,000.

A number of other hedge funds have also made changes to their positions in CAG. Community Bank N.A. boosted its stake in Conagra Brands by 5.5% during the 4th quarter. Community Bank N.A. now owns 46,480 shares of the company’s stock valued at $1,332,000 after acquiring an additional 2,410 shares during the last quarter. Schnieders Capital Management LLC lifted its position in shares of Conagra Brands by 71.4% during the fourth quarter. Schnieders Capital Management LLC now owns 12,900 shares of the company’s stock worth $370,000 after purchasing an additional 5,375 shares during the last quarter. GAMMA Investing LLC acquired a new position in Conagra Brands in the fourth quarter worth about $191,000. Parkside Financial Bank & Trust grew its stake in Conagra Brands by 48.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares in the last quarter. Finally, OLD National Bancorp IN increased its holdings in Conagra Brands by 10.5% in the fourth quarter. OLD National Bancorp IN now owns 240,895 shares of the company’s stock valued at $6,904,000 after buying an additional 22,902 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.6 %

CAG stock opened at $31.08 on Friday. The firm’s 50-day moving average is $29.23 and its two-hundred day moving average is $28.68. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 15.62, a price-to-earnings-growth ratio of 3.12 and a beta of 0.42. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $38.73.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company earned $0.76 earnings per share. Conagra Brands’s revenue was down 1.7% compared to the same quarter last year. On average, analysts forecast that Conagra Brands, Inc. will post 2.62 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, May 30th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio is presently 70.35%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CAG. Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Royal Bank of Canada reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Citigroup boosted their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” 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 report on Monday, April 8th. Finally, Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” 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 stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $33.14.

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.