Chiron Capital Management LLC Purchases 10,300 Shares of Conagra Brands $CAG

Chiron Capital Management LLC grew its position in shares of Conagra Brands (NYSE:CAG) by 66.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,900 shares of the company’s stock after buying an additional 10,300 shares during the quarter. Chiron Capital Management LLC’s holdings in Conagra Brands were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CAG. AQR Capital Management LLC lifted its holdings in shares of Conagra Brands by 1.0% during the 4th quarter. AQR Capital Management LLC now owns 735,656 shares of the company’s stock valued at $20,363,000 after buying an additional 7,270 shares during the period. Triumph Capital Management raised its holdings in Conagra Brands by 169.8% in the 4th quarter. Triumph Capital Management now owns 32,882 shares of the company’s stock worth $912,000 after purchasing an additional 20,693 shares during the period. AXA S.A. raised its holdings in Conagra Brands by 123.1% in the 4th quarter. AXA S.A. now owns 476,300 shares of the company’s stock worth $13,217,000 after purchasing an additional 262,778 shares during the period. Aptus Capital Advisors LLC raised its holdings in Conagra Brands by 25.3% in the 4th quarter. Aptus Capital Advisors LLC now owns 45,033 shares of the company’s stock worth $1,250,000 after purchasing an additional 9,095 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Conagra Brands by 104.1% in the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company’s stock worth $49,776,000 after purchasing an additional 914,820 shares during the period. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CAG. The Goldman Sachs Group cut Conagra Brands from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $26.00 to $21.00 in a report on Monday, June 9th. Bank of America cut Conagra Brands from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. Barclays decreased their target price on Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, May 12th. Evercore ISI decreased their target price on Conagra Brands from $26.00 to $24.00 and set an “in-line” rating on the stock in a report on Friday, July 11th. Finally, Stifel Nicolaus decreased their target price on Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, July 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.17.

Conagra Brands Trading Up 1.9%

Shares of CAG stock opened at $19.15 on Tuesday. Conagra Brands has a 52-week low of $18.18 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The firm has a market capitalization of $9.16 billion, a PE ratio of 8.01, a PEG ratio of 1.83 and a beta of 0.07. The stock has a fifty day simple moving average of $19.52 and a two-hundred day simple moving average of $22.70.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.05). The business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. On average, analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.3%. Conagra Brands’s dividend payout ratio (DPR) is presently 58.58%.

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.