Stoneridge Investment Partners LLC Has $4.44 Million Position in Conagra Brands Inc (CAG)

Stoneridge Investment Partners LLC increased its holdings in Conagra Brands Inc (NYSE:CAG) by 24.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 207,867 shares of the company’s stock after purchasing an additional 40,517 shares during the quarter. Conagra Brands accounts for 1.4% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 20th biggest position. Stoneridge Investment Partners LLC’s holdings in Conagra Brands were worth $4,440,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CAG. Regent Investment Management LLC increased its position in shares of Conagra Brands by 9.0% in the fourth quarter. Regent Investment Management LLC now owns 9,945 shares of the company’s stock valued at $212,000 after acquiring an additional 820 shares during the period. Vanguard Group Inc increased its position in shares of Conagra Brands by 0.8% in the third quarter. Vanguard Group Inc now owns 45,019,445 shares of the company’s stock valued at $1,529,309,000 after acquiring an additional 362,347 shares during the period. InterOcean Capital LLC increased its position in shares of Conagra Brands by 9.4% in the third quarter. InterOcean Capital LLC now owns 89,770 shares of the company’s stock valued at $3,049,000 after acquiring an additional 7,699 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Conagra Brands by 12.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,678,887 shares of the company’s stock valued at $57,022,000 after purchasing an additional 184,227 shares in the last quarter. Finally, QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Conagra Brands during the 4th quarter valued at about $2,824,000. Institutional investors own 70.96% of the company’s stock.

NYSE:CAG traded up $0.45 during mid-day trading on Monday, hitting $22.64. 329,905 shares of the company’s stock were exchanged, compared to its average volume of 7,054,328. Conagra Brands Inc has a one year low of $20.22 and a one year high of $39.43. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.47 and a quick ratio of 0.69. The firm has a market capitalization of $10.78 billion, a P/E ratio of 10.75, a PEG ratio of 1.54 and a beta of 0.64.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 20th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.55 by $0.12. Conagra Brands had a net margin of 9.07% and a return on equity of 19.45%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Conagra Brands’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities research analysts expect that Conagra Brands Inc will post 2.06 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, January 30th will be paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, January 29th. Conagra Brands’s payout ratio is currently 40.28%.

A number of equities research analysts have recently weighed in on CAG shares. Zacks Investment Research reaffirmed a “sell” rating on shares of Conagra Brands in a research note on Monday, December 31st. Goldman Sachs Group lowered shares of Conagra Brands from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, January 2nd. Sanford C. Bernstein lowered shares of Conagra Brands from a “market perform” rating to an “underperform” rating in a research note on Wednesday, November 14th. Credit Suisse Group set a $39.00 target price on shares of Conagra Brands and gave the company a “hold” rating in a research note on Thursday, December 20th. Finally, Barclays reaffirmed a “buy” rating and set a $30.00 target price on shares of Conagra Brands in a research note on Sunday, December 23rd. Three analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. Conagra Brands currently has an average rating of “Hold” and a consensus target price of $41.40.

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About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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