Wedge Capital Management L L P NC Acquires 12,363 Shares of Conagra Brands, Inc. (NYSE:CAG)

Wedge Capital Management L L P NC increased its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 10.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 130,098 shares of the company's stock after purchasing an additional 12,363 shares during the quarter. Wedge Capital Management L L P NC's holdings in Conagra Brands were worth $3,610,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Brookstone Capital Management boosted its position in shares of Conagra Brands by 18.4% during the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock valued at $11,085,000 after acquiring an additional 62,187 shares during the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Conagra Brands by 110.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 36,768 shares of the company's stock worth $1,196,000 after buying an additional 19,329 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock valued at $341,048,000 after buying an additional 618,096 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Conagra Brands during the 3rd quarter valued at $1,020,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company's stock worth $346,495,000 after acquiring an additional 10,604,367 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CAG has been the topic of several recent research reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a "neutral" rating for the company in a research note on Friday, January 3rd. Bank of America decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, December 20th. BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a research note on Thursday, October 3rd. Finally, Citigroup reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 11th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $30.56.

Conagra Brands Stock Up 0.1 %

NYSE CAG traded up $0.04 during trading hours on Monday, reaching $25.83. 9,680,558 shares of the company's stock traded hands, compared to its average volume of 4,525,496. The firm has a market cap of $12.33 billion, a PE ratio of 25.32, a PEG ratio of 1.76 and a beta of 0.29. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 52-week low of $25.35 and a 52-week high of $33.24. The firm has a 50-day simple moving average of $27.21 and a 200 day simple moving average of $29.24.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business's revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.71 earnings per share. Sell-side analysts anticipate that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.42%. Conagra Brands's payout ratio is presently 137.26%.

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.