Kennondale Capital Management LLC Takes Position in Conagra Brands, Inc. (NYSE:CAG)

Kennondale Capital Management LLC acquired a new stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,942 shares of the company's stock, valued at approximately $331,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Empirical Finance LLC raised its position in 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 during the period. Grove Bank & Trust raised its position in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock valued at $31,000 after purchasing an additional 447 shares during the period. CIBC Asset Management Inc raised its position in Conagra Brands by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock valued at $2,346,000 after purchasing an additional 501 shares during the period. International Private Wealth Advisors LLC grew its stake in shares of Conagra Brands by 5.2% during the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company's stock valued at $295,000 after buying an additional 527 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in shares of Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company's stock valued at $55,000 after buying an additional 529 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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Conagra Brands Stock Down 1.0 %

Conagra Brands stock traded down $0.26 during mid-day trading on Friday, reaching $25.65. 21,562,494 shares of the company were exchanged, compared to its average volume of 4,831,392. The business has a fifty day moving average of $25.62 and a 200 day moving average of $27.89. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market cap of $12.24 billion, a P/E ratio of 25.14, a PEG ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 12-month low of $23.06 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands's revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 earnings per share. Research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CAG shares. Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and cut their target price for the company from $33.00 to $26.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. cut their target price on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Finally, Stifel Nicolaus dropped their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. Eight research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $28.33.

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.