Aigen Investment Management LP Takes $1.02 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Aigen Investment Management LP purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 31,352 shares of the company's stock, valued at approximately $1,020,000.

Other large investors have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Conagra Brands by 2.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,225,637 shares of the company's stock worth $39,858,000 after purchasing an additional 30,685 shares in the last quarter. WealthPlan Investment Management LLC bought a new stake in Conagra Brands in the 3rd quarter worth approximately $296,000. Venturi Wealth Management LLC increased its position in shares of Conagra Brands by 30.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 5,838 shares of the company's stock valued at $190,000 after purchasing an additional 1,366 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of Conagra Brands during the 3rd quarter valued at approximately $59,000. Finally, XML Financial LLC bought a new position in shares of Conagra Brands during the 3rd quarter valued at approximately $224,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Down 0.1 %

Shares of NYSE CAG traded down $0.04 during mid-day trading on Wednesday, reaching $27.64. 3,290,140 shares of the company were exchanged, compared to its average volume of 4,705,047. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 2.85 and a beta of 0.34. Conagra Brands, Inc. has a 1 year low of $26.62 and a 1 year high of $33.24. The firm has a 50-day moving average of $30.42 and a 200 day moving average of $30.09.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.84 billion. During the same quarter last year, the company earned $0.66 earnings per share. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. On average, research analysts expect that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands's dividend payout ratio (DPR) is presently 135.92%.

Analysts Set New Price Targets

CAG has been the topic of several research analyst reports. BNP Paribas raised Conagra Brands to a "strong-buy" rating in a research report on Thursday, October 3rd. Wells Fargo & Company upped their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America lowered their target price on Conagra Brands from $34.00 to $33.00 and set a "neutral" rating for the company in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group assumed coverage on Conagra Brands in a report on Monday, August 12th. They issued a "buy" rating and a $36.00 target price for the company. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and an average target price of $31.63.

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.