Capital Management Corp VA Grows Position in Conagra Brands, Inc. (NYSE:CAG)

Capital Management Corp VA raised its holdings in Conagra Brands, Inc. (NYSE:CAG) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,907 shares of the company’s stock after purchasing an additional 48,795 shares during the period. Conagra Brands accounts for about 1.5% of Capital Management Corp VA’s holdings, making the stock its 29th biggest position. Capital Management Corp VA owned 0.06% of Conagra Brands worth $8,406,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC grew its stake in Conagra Brands by 79.9% in the 4th quarter. Larson Financial Group LLC now owns 3,777 shares of the company’s stock valued at $105,000 after buying an additional 1,678 shares in the last quarter. Machina Capital S.A.S. purchased a new stake in shares of Conagra Brands during the fourth quarter worth $558,000. Edgestream Partners L.P. bought a new position in shares of Conagra Brands in the fourth quarter worth $726,000. Callan Family Office LLC purchased a new position in shares of Conagra Brands in the fourth quarter valued at $1,415,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Conagra Brands during the 4th quarter valued at $16,588,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $27.25 on Friday. The company’s fifty day moving average price is $25.83 and its 200-day moving average price is $28.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 26.71, a PEG ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Monday, January 27th were given a $0.35 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.14%. Conagra Brands’s payout ratio is 137.25%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CAG shares. Barclays cut their target price on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on shares of Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Finally, The Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $28.33.

About Conagra Brands

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.