Oak Thistle LLC Buys 80,596 Shares of Conagra Brands $CAG

Oak Thistle LLC grew its position in shares of Conagra Brands (NYSE:CAG) by 280.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,346 shares of the company’s stock after purchasing an additional 80,596 shares during the period. Oak Thistle LLC’s holdings in Conagra Brands were worth $1,893,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands in the 2nd quarter worth $26,000. MUFG Securities EMEA plc purchased a new position in shares of Conagra Brands in the 2nd quarter worth $29,000. True Wealth Design LLC grew its stake in shares of Conagra Brands by 844.4% in the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after buying an additional 1,427 shares in the last quarter. Spire Wealth Management grew its stake in shares of Conagra Brands by 249.0% in the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock worth $32,000 after buying an additional 1,230 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Conagra Brands in the 3rd quarter worth $33,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Trading Up 0.5%

NYSE:CAG opened at $15.57 on Thursday. Conagra Brands has a one year low of $15.03 and a one year high of $26.33. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.28 and a current ratio of 0.90. The firm has a market cap of $7.45 billion, a P/E ratio of -155.72 and a beta of 0.04. The firm has a 50-day simple moving average of $17.63 and a 200-day simple moving average of $17.65.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm posted $0.51 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities analysts anticipate that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Thursday, April 30th. Conagra Brands’s payout ratio is -1,400.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CAG shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $15.00 to $14.00 and set an “underweight” rating for the company in a research note on Thursday, April 2nd. BNP Paribas Exane dropped their price objective on shares of Conagra Brands from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, April 2nd. Royal Bank Of Canada dropped their price target on shares of Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating for the company in a research note on Thursday, April 2nd. Finally, Evercore dropped their price target on shares of Conagra Brands from $19.00 to $18.00 in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $16.27.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.