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

Savoir Faire Capital Management L.P. acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 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 holdings, making the stock its 22nd largest position.

A number of other hedge funds have also made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in Conagra Brands during the 4th quarter worth $29,000. Grove Bank & Trust grew its holdings in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after buying an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Conagra Brands in the fourth quarter valued at about $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands in the fourth quarter worth about $44,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Trading Down 0.1 %

CAG traded down $0.02 on Wednesday, hitting $24.98. The company had a trading volume of 1,777,400 shares, compared to its average volume of 5,088,834. The company's fifty day moving average price is $25.70 and its 200 day moving average price is $27.29. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. 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 firm has a market cap of $11.92 billion, a P/E ratio of 24.47, a PEG ratio of 1.76 and a beta of 0.27.

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). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business's revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 earnings per share. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.61%. Conagra Brands's payout ratio is presently 205.88%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Bank of America dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, December 20th. Morgan Stanley began coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target for the company. The Goldman Sachs Group downgraded Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Finally, Barclays lifted their price target on Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently 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.