Outfitter Financial LLC Acquires 655 Shares of Conagra Brands, Inc. (NYSE:CAG)

Outfitter Financial LLC increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,495 shares of the company’s stock after buying an additional 655 shares during the period. Outfitter Financial LLC’s holdings in Conagra Brands were worth $1,705,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CAG. American Century Companies Inc. increased its position in Conagra Brands by 14.0% in the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after purchasing an additional 1,737,380 shares during the period. Invesco Ltd. grew its position in shares of Conagra Brands by 37.1% during the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after buying an additional 2,619,372 shares during the period. Federated Hermes Inc. grew its position in shares of Conagra Brands by 18.7% during the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after buying an additional 1,330,249 shares during the period. Northern Trust Corp raised its stake in shares of Conagra Brands by 3.8% during the third quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock worth $164,585,000 after buying an additional 220,024 shares during the last quarter. Finally, Barclays PLC lifted its holdings in Conagra Brands by 75.7% in the third quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock valued at $102,792,000 after buying an additional 1,614,986 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.7 %

NYSE CAG traded up $0.23 on Friday, reaching $31.01. The company had a trading volume of 692,316 shares, compared to its average volume of 4,932,694. The company’s fifty day moving average is $29.70 and its 200-day moving average is $28.88. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $36.89. The firm has a market capitalization of $14.82 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 3.07 and a beta of 0.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. Conagra Brands’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, research analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Friday, April 5th. Citigroup raised their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Finally, Barclays upped their price target on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.14.

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.