Naples Money Management LLC Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Naples Money Management LLC purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 919 shares of the company’s stock, valued at approximately $26,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Riverview Trust Co lifted its position in shares of Conagra Brands by 132.8% in the 3rd quarter. Riverview Trust Co now owns 945 shares of the company’s stock worth $26,000 after purchasing an additional 539 shares during the period. Thompson Investment Management Inc. boosted its position in Conagra Brands by 100.0% during the 3rd quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares in the last quarter. Authentikos Wealth Advisory LLC bought a new position in shares of Conagra Brands in the 3rd quarter worth $33,000. Clear Street Markets LLC lifted its stake in shares of Conagra Brands by 93.2% during the 1st quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock worth $35,000 after purchasing an additional 451 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in Conagra Brands during the second quarter valued at about $35,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $30.63 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The stock has a market capitalization of $14.64 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 3.05 and a beta of 0.42. The firm’s 50 day simple moving average is $28.83 and its 200-day simple moving average is $28.51. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $38.73.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.76 earnings per share. Analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio is presently 70.35%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CAG. Wells Fargo & Company boosted their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Barclays raised their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Citigroup boosted their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada decreased their price target on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 3rd. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $33.14.

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.