Gilman Hill Asset Management LLC Makes New $9.74 Million Investment in Conagra Brands, Inc. (NYSE:CAG)

Gilman Hill Asset Management LLC acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 350,862 shares of the company’s stock, valued at approximately $9,736,000. Conagra Brands accounts for approximately 1.7% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Gilman Hill Asset Management LLC owned approximately 0.07% of Conagra Brands at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust lifted its holdings in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the period. Premier Path Wealth Partners LLC raised its position in Conagra Brands by 11.5% during the fourth quarter. Premier Path Wealth Partners LLC now owns 45,388 shares of the company’s stock valued at $1,260,000 after acquiring an additional 4,677 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in Conagra Brands by 1.1% in the fourth quarter. Arkadios Wealth Advisors now owns 53,369 shares of the company’s stock valued at $1,481,000 after acquiring an additional 600 shares during the period. Merit Financial Group LLC purchased a new stake in Conagra Brands in the 4th quarter worth approximately $275,000. Finally, Wedge Capital Management L L P NC grew its stake in shares of Conagra Brands by 10.5% during the 4th quarter. Wedge Capital Management L L P NC now owns 130,098 shares of the company’s stock worth $3,610,000 after purchasing an additional 12,363 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $25.83 on Monday. The business’s 50 day moving average price is $27.25 and its 200 day moving average price is $29.25. The company has a market cap of $12.33 billion, a price-to-earnings 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 quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a one year low of $25.35 and a one year high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts predict that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 5.42%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is presently 137.25%.

Analyst Upgrades and Downgrades

CAG has been the subject of a number of recent analyst reports. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Bank of America 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 Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.56.

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.