Duality Advisers LP Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Duality Advisers LP bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 58,155 shares of the company’s stock, valued at approximately $1,724,000.

Other hedge funds have also recently modified their holdings of the company. Naples Money Management LLC purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $26,000. First United Bank & Trust purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $26,000. Advantage Trust Co purchased a new stake in shares of Conagra Brands during the 4th quarter worth approximately $34,000. Parkside Financial Bank & Trust increased its stake in shares of Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in Conagra Brands by 144.4% in the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after buying an additional 836 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the transaction, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Trading Up 0.1 %

Shares of NYSE:CAG traded up $0.04 during midday trading on Friday, hitting $28.42. 2,943,288 shares of the stock traded hands, compared to its average volume of 4,750,203. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $33.60. The stock has a market capitalization of $13.59 billion, a PE ratio of 14.37, a P/E/G ratio of 2.80 and a beta of 0.32. The business’s 50 day moving average is $29.50 and its two-hundred day moving average is $29.21. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the prior year, the company earned $0.62 EPS. The business’s revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s dividend payout ratio is currently 70.35%.

Analysts Set New Price Targets

A number of research firms have recently commented on CAG. Evercore ISI reduced their price target on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday. Barclays dropped their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday. Citigroup dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Finally, Royal Bank of Canada dropped their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $32.00.

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.