Quinn Opportunity Partners LLC Acquires 48,000 Shares of Conagra Brands, Inc. (NYSE:CAG)

Quinn Opportunity Partners LLC boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 270.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,749 shares of the company's stock after purchasing an additional 48,000 shares during the quarter. Quinn Opportunity Partners LLC's holdings in Conagra Brands were worth $1,825,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands during the fourth quarter worth about $28,000. Riverview Trust Co bought a new position in shares of Conagra Brands in the 4th quarter valued at $29,000. Grove Bank & Trust grew 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 worth $31,000 after acquiring an additional 447 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Conagra Brands in the 4th quarter worth about $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Price Performance

Conagra Brands stock traded up $0.47 during midday trading on Thursday, reaching $25.37. 2,217,425 shares of the stock were exchanged, compared to its average volume of 5,111,214. The company's fifty day moving average is $25.74 and its 200-day moving average is $27.03. The firm has a market cap of $12.11 billion, a PE ratio of 24.87, a PEG ratio of 1.76 and a beta of 0.27. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the company posted $0.69 earnings per share. The firm's revenue for the quarter was down 6.3% 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 year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.52%. Conagra Brands's payout ratio is 205.88%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Wells Fargo & Company decreased their target price 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, February 18th. Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price for the company. Bank of America cut their price target on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Nine 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 stock. Based on data from MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and a consensus target price of $27.90.

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.