Wedge Capital Management L L P NC Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Wedge Capital Management L L P NC bought a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 117,735 shares of the company's stock, valued at approximately $3,829,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CAG. Innealta Capital LLC bought a new position in shares of Conagra Brands in the second quarter valued at $25,000. Chilton Capital Management LLC acquired a new position in Conagra Brands during the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC increased its holdings in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company's stock worth $30,000 after purchasing an additional 420 shares in the last quarter. Whittier Trust Co. raised its stake in shares of Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company's stock worth $42,000 after purchasing an additional 836 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Conagra Brands in the first quarter valued at approximately $42,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of NYSE:CAG traded up $0.14 during mid-day trading on Wednesday, reaching $29.72. The company had a trading volume of 5,139,291 shares, compared to its average volume of 4,765,113. Conagra Brands, Inc. has a one year low of $26.62 and a one year high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The company's 50-day moving average price is $31.15 and its 200-day moving average price is $30.29. The firm has a market cap of $14.21 billion, a price-to-earnings ratio of 40.71, a PEG ratio of 3.01 and a beta of 0.32.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for the quarter, compared to analysts' expectations of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm's quarterly revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 EPS. As a group, equities research analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands's payout ratio is currently 191.78%.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of analyst reports. The Goldman Sachs Group assumed coverage on Conagra Brands in a research report on Monday, August 12th. They issued a "buy" rating and a $36.00 price target for the company. Bank of America cut their price target on shares of Conagra Brands from $34.00 to $33.00 and set a "neutral" rating on the stock in a report on Thursday, October 3rd. BNP Paribas upgraded shares of Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Citigroup cut their target price on Conagra Brands from $32.00 to $30.00 and set a "neutral" rating on the stock in a research note on Friday, June 28th. Finally, Evercore ISI decreased their price target on Conagra Brands from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Conagra Brands has a consensus rating of "Hold" and a consensus target price of $31.63.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares of the company's stock, valued at $4,890,108.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.88% of the stock is owned by insiders.

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.