Savoir Faire Capital Management L.P. Invests $3.95 Million in Conagra Brands, Inc. (NYSE:CAG)

Savoir Faire Capital Management L.P. bought a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 142,199 shares of the company's stock, valued at approximately $3,946,000. Conagra Brands makes up 1.9% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Conagra Brands by 70.1% during the 3rd quarter. Wellington Management Group LLP now owns 73,291 shares of the company's stock worth $2,383,000 after purchasing an additional 30,215 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Conagra Brands in the 3rd quarter valued at $196,000. Inspire Trust Co. N.A. increased its stake in shares of Conagra Brands by 14.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 85,587 shares of the company's stock worth $2,783,000 after acquiring an additional 11,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Conagra Brands by 0.6% during the 3rd quarter. Principal Financial Group Inc. now owns 573,789 shares of the company's stock worth $18,660,000 after acquiring an additional 3,597 shares during the period. Finally, Everence Capital Management Inc. grew its holdings in shares of Conagra Brands by 14.2% in the fourth quarter. Everence Capital Management Inc. now owns 18,350 shares of the company's stock valued at $509,000 after purchasing an additional 2,280 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CAG. Bank of America reduced their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. Morgan Stanley initiated coverage on shares of Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 target price on the stock. Wells Fargo & Company dropped 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, February 18th. JPMorgan Chase & Co. decreased their price objective on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Finally, The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and dropped their target price for the company from $33.00 to $26.00 in a report on Monday, February 24th. Nine research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Conagra Brands currently has an average rating of "Hold" and an average price target of $27.90.

Conagra Brands Stock Up 1.7 %

Shares of NYSE CAG traded up $0.41 during mid-day trading on Friday, hitting $25.31. The company had a trading volume of 4,787,593 shares, compared to its average volume of 5,128,022. The business's 50-day simple moving average is $25.77 and its 200 day simple moving average is $26.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market capitalization of $12.08 billion, a PE ratio of 24.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. During the same period last year, the business earned $0.69 EPS. The firm's revenue was down 6.3% compared to the same quarter last year. On average, analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is presently 205.88%.

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.