OFI Invest Asset Management Takes Position in Conagra Brands, Inc. (NYSE:CAG)

OFI Invest Asset Management purchased a new stake in Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,853 shares of the company’s stock, valued at approximately $76,000.

Other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the 4th quarter valued at about $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands in the 4th quarter valued at about $29,000. Grove Bank & Trust increased its holdings in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands in the 4th quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $27.63 on Tuesday. The company has a market cap of $13.19 billion, a PE ratio of 27.08, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 12 month low of $23.06 and a 12 month high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a 50-day simple moving average of $25.82 and a 200-day simple moving average of $28.17.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, equities analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Monday, January 27th were given a $0.35 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.07%. Conagra Brands’s dividend payout ratio is presently 137.25%.

Wall Street Analyst Weigh In

CAG has been the subject of several recent research reports. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Bank of America dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Stifel Nicolaus dropped their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Finally, Citigroup dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $28.33.

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.