Keene & Associates Inc. Purchases New Shares in Conagra Brands, Inc. (NYSE:CAG)

Keene & Associates Inc. acquired a new stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 86,550 shares of the company's stock, valued at approximately $2,402,000. Conagra Brands makes up 1.9% of Keene & Associates Inc.'s holdings, making the stock its 27th biggest position.

Several other large investors also recently added to or reduced their stakes in the stock. Courier Capital LLC grew its holdings in Conagra Brands by 1.3% during the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company's stock worth $880,000 after acquiring an additional 355 shares in the last quarter. Empirical Finance LLC boosted its stake in shares of Conagra Brands by 2.3% during the third quarter. Empirical Finance LLC now owns 16,379 shares of the company's stock valued at $533,000 after purchasing an additional 362 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company's stock valued at $1,716,000 after buying an additional 376 shares during the period. Bridgewater Advisors Inc. raised its stake in Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company's stock worth $820,000 after buying an additional 376 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in Conagra Brands by 65.4% during 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 in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of CAG stock traded up $0.98 during trading hours on Friday, hitting $25.82. The company's stock had a trading volume of 7,472,977 shares, compared to its average volume of 5,750,748. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a 50 day moving average of $26.20 and a 200 day moving average of $28.57. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24. The stock has a market cap of $12.32 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 1.72 and a beta of 0.28.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm earned $0.71 EPS. The firm's revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.42%. Conagra Brands's dividend payout ratio is presently 137.26%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CAG. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Bank of America decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. Finally, Barclays reduced their price target on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating on the stock in a research report on Monday, December 23rd. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Conagra Brands has an average rating of "Hold" and an average price target of $29.78.

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.