Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Two Sigma Advisers LP

Two Sigma Advisers LP increased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 33.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,135,000 shares of the company’s stock after acquiring an additional 2,058,000 shares during the quarter. Two Sigma Advisers LP owned approximately 1.70% of Conagra Brands worth $225,746,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Bessemer Group Inc. increased its holdings in shares of Conagra Brands by 0.6% in the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock valued at $2,166,000 after acquiring an additional 429 shares during the period. 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 acquiring an additional 447 shares during the period. Summit Financial Wealth Advisors LLC increased its holdings in shares of Conagra Brands by 1.3% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock valued at $1,030,000 after acquiring an additional 500 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after acquiring an additional 501 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company’s stock valued at $1,823,000 after acquiring an additional 505 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of CAG opened at $22.97 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 1 year low of $22.38 and a 1 year high of $33.24. The stock has a market capitalization of $10.96 billion, a P/E ratio of 22.51, a P/E/G ratio of 1.76 and a beta of 0.18. The company’s fifty day moving average is $25.07 and its two-hundred day moving average is $26.10.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.10%. Conagra Brands’s dividend payout ratio (DPR) is presently 205.88%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CAG. Morgan Stanley started coverage on shares of Conagra Brands in a report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.50.

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.