Adams Asset Advisors LLC Grows Stake in Conagra Brands, Inc. (NYSE:CAG)

Adams Asset Advisors LLC grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 211,363 shares of the company’s stock after buying an additional 3,168 shares during the period. Adams Asset Advisors LLC’s holdings in Conagra Brands were worth $5,865,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hexagon Capital Partners LLC increased its position in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands in the 3rd quarter worth approximately $47,000. ST Germain D J Co. Inc. lifted its stake in shares of Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after purchasing an additional 529 shares during the period. Kennebec Savings Bank bought a new stake in shares of Conagra Brands during the third quarter valued at approximately $59,000. Finally, Quarry LP grew its stake in Conagra Brands by 229.7% in the third quarter. Quarry LP now owns 1,820 shares of the company’s stock worth $59,000 after purchasing an additional 1,268 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of CAG stock traded up $0.42 during trading hours on Monday, reaching $26.36. The company had a trading volume of 2,235,141 shares, compared to its average volume of 4,637,250. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. Conagra Brands, Inc. has a one year low of $25.85 and a one year high of $33.24. The firm has a market cap of $12.58 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 2.91 and a beta of 0.29. The business has a fifty day moving average price of $27.53 and a 200-day moving average price of $29.34.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. Conagra Brands’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.71 EPS. Sell-side analysts predict that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Bank of America dropped their price target 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. Barclays reduced their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company dropped their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Citigroup reduced their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Seven equities research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.56.

About Conagra Brands

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.