Kraft Davis & Associates LLC Buys New Shares in Conagra Brands, Inc. (NYSE:CAG)

Kraft Davis & Associates LLC purchased a new position in Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, Holdings Channel reports. The firm purchased 7,935 shares of the company’s stock, valued at approximately $235,000.

A number of other large investors have also made changes to their positions in CAG. Riverview Trust Co increased its holdings in Conagra Brands by 132.8% in the 3rd quarter. Riverview Trust Co now owns 945 shares of the company’s stock valued at $26,000 after buying an additional 539 shares during the period. Naples Money Management LLC bought a new stake in Conagra Brands in the fourth quarter valued at about $26,000. Thompson Investment Management Inc. increased its stake in Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the period. Authentikos Wealth Advisory LLC acquired a new position in Conagra Brands in the third quarter worth about $33,000. Finally, Clear Street Markets LLC lifted its stake in Conagra Brands by 93.2% during the first quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock worth $35,000 after purchasing an additional 451 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CAG. Citigroup upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Royal Bank of Canada lowered their price target on 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. Barclays lifted their price objective on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company upped their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Finally, Stifel Nicolaus increased their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $33.14.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.26 during trading on Friday, reaching $30.62. The company’s stock had a trading volume of 4,850,813 shares, compared to its average volume of 5,251,885. The stock has a 50-day moving average price of $28.83 and a two-hundred day moving average price of $28.51. The stock has a market capitalization of $14.64 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 3.05 and a beta of 0.42. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.57%. Conagra Brands’s dividend payout ratio (DPR) is currently 70.35%.

Conagra Brands 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.