Hotchkis & Wiley Capital Management LLC Buys 122,590 Shares of Conagra Brands, Inc. (NYSE:CAG)

Hotchkis & Wiley Capital Management LLC raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,290,625 shares of the company’s stock after purchasing an additional 122,590 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 1.32% of Conagra Brands worth $204,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its stake in Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the period. Marshall Wace LLP grew its stake in shares of Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after acquiring an additional 2,242,186 shares during the last quarter. Holocene Advisors LP acquired a new stake in Conagra Brands during the third quarter worth about $65,932,000. Federated Hermes Inc. lifted its stake in Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after buying an additional 1,871,238 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after purchasing an additional 1,513,726 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 1.0 %

NYSE CAG opened at $27.82 on Tuesday. The company’s fifty day simple moving average is $29.17 and its 200-day simple moving average is $29.78. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The stock has a market cap of $13.28 billion, a P/E ratio of 27.01, a PEG ratio of 2.84 and a beta of 0.31. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 5.03%. Conagra Brands’s dividend payout ratio is currently 135.92%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CAG shares. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. The Goldman Sachs Group began coverage on Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Finally, Bank of America reduced their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.63.

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.