SteelPeak Wealth LLC Invests $238,000 in Conagra Brands, Inc. (NYSE:CAG)

SteelPeak Wealth LLC acquired a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, Holdings Channel reports. The fund acquired 8,582 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands during the 4th quarter worth $28,000. Hexagon Capital Partners LLC raised its position in shares of Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. Grove Bank & Trust boosted its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after acquiring an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Conagra Brands during the third quarter valued at about $47,000. Finally, ST Germain D J Co. Inc. increased its stake in Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after acquiring an additional 529 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $25.89 on Friday. The stock has a market cap of $12.36 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.76 and a beta of 0.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 12 month low of $25.06 and a 12 month high of $33.24. The stock’s 50 day moving average price is $26.97 and its 200 day moving average price is $29.06.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.41%. Conagra Brands’s dividend payout ratio (DPR) is 137.26%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CAG shares. Stifel Nicolaus reduced their price objective on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Bank of America reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Finally, Barclays lowered their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Seven investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.33.

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.