Truvestments Capital LLC Has $379,000 Position in Conagra Brands, Inc. (NYSE:CAG)

Truvestments Capital LLC boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 15.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,799 shares of the company’s stock after buying an additional 1,741 shares during the quarter. Truvestments Capital LLC’s holdings in Conagra Brands were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CAG. Canada Pension Plan Investment Board lifted its stake in shares of Conagra Brands by 6.7% during the first quarter. Canada Pension Plan Investment Board now owns 881,694 shares of the company’s stock valued at $26,133,000 after acquiring an additional 55,692 shares during the period. JT Stratford LLC lifted its position in Conagra Brands by 33.4% during the 1st quarter. JT Stratford LLC now owns 10,780 shares of the company’s stock valued at $320,000 after purchasing an additional 2,700 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Conagra Brands by 57.8% in the 1st quarter. Advisors Asset Management Inc. now owns 80,722 shares of the company’s stock valued at $2,393,000 after purchasing an additional 29,569 shares during the last quarter. EP Wealth Advisors LLC grew its position in shares of Conagra Brands by 17.4% during the 1st quarter. EP Wealth Advisors LLC now owns 9,962 shares of the company’s stock worth $295,000 after buying an additional 1,474 shares during the period. Finally, EntryPoint Capital LLC raised its stake in shares of Conagra Brands by 39.7% during the first quarter. EntryPoint Capital LLC now owns 2,454 shares of the company’s stock worth $73,000 after buying an additional 698 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Shares of NYSE CAG traded up $0.41 during midday trading on Friday, hitting $29.94. 3,518,765 shares of the company’s stock were exchanged, compared to its average volume of 4,617,913. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $33.39. The company’s 50 day moving average price is $29.21 and its 200 day moving average price is $29.27. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $14.31 billion, a PE ratio of 41.01, a price-to-earnings-growth ratio of 2.59 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 earnings per share. As a group, analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 1st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.68%. Conagra Brands’s dividend payout ratio (DPR) is currently 191.78%.

Wall Street Analyst Weigh In

CAG has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Barclays cut their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Citigroup decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Evercore ISI cut their target price on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, Wells Fargo & Company reduced their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.18.

Insider Buying and Selling at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the completion of the sale, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

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.