Fisher Funds Management LTD Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Fisher Funds Management LTD purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 69,950 shares of the company’s stock, valued at approximately $1,936,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bell Bank boosted its stake in Conagra Brands by 76.0% during the fourth quarter. Bell Bank now owns 282,825 shares of the company’s stock valued at $7,848,000 after buying an additional 122,120 shares in the last quarter. Hardy Reed LLC bought a new position in shares of Conagra Brands during the 4th quarter valued at about $328,000. Handelsbanken Fonder AB boosted its position in shares of Conagra Brands by 36.8% during the 4th quarter. Handelsbanken Fonder AB now owns 208,287 shares of the company’s stock valued at $5,780,000 after purchasing an additional 56,012 shares in the last quarter. Keene & Associates Inc. acquired a new position in shares of Conagra Brands in the 4th quarter worth approximately $2,402,000. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of Conagra Brands by 5.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 14,940 shares of the company’s stock worth $415,000 after purchasing an additional 757 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Stifel Nicolaus decreased their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday, February 19th. Citigroup reduced their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $29.78.

Conagra Brands Stock Performance

Shares of CAG stock opened at $25.82 on Monday. The company has a market capitalization of $12.32 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock’s fifty day simple moving average is $26.15 and its 200-day simple moving average is $28.52.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.71 EPS. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

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

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.