New Age Alpha Advisors LLC Invests $3.62 Million in Conagra Brands, Inc. (NYSE:CAG)

New Age Alpha Advisors LLC acquired a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 130,570 shares of the company's stock, valued at approximately $3,623,000.

Several other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands in the 4th quarter valued at about $28,000. Riverview Trust Co purchased a new position in Conagra Brands in the 4th quarter valued at $29,000. Grove Bank & Trust boosted its holdings in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands in the 4th quarter valued at about $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Down 1.0 %

Shares of CAG traded down $0.27 during mid-day trading on Wednesday, hitting $26.34. The company had a trading volume of 2,299,028 shares, compared to its average volume of 5,062,795. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The business's 50-day simple moving average is $25.67 and its 200-day simple moving average is $27.53. The stock has a market cap of $12.57 billion, a PE ratio of 25.82, a P/E/G ratio of 1.76 and a beta of 0.18.

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Conagra Brands Dividend Announcement

The business also recently disclosed 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. This represents a $1.40 annualized dividend and a dividend yield of 5.32%. Conagra Brands's dividend payout ratio is presently 137.25%.

Analysts Set New Price Targets

CAG has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. Bank of America dropped their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group downgraded Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Citigroup reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday, December 11th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.20.

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.