260,935 Shares in Conagra Brands, Inc. (NYSE:CAG) Bought by Invenomic Capital Management LP

Invenomic Capital Management LP purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 260,935 shares of the company’s stock, valued at approximately $8,486,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC acquired a new position in Conagra Brands during the 2nd quarter worth about $25,000. Chilton Capital Management LLC bought a new position in Conagra Brands in the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC increased its stake in shares of Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares during the period. Abich Financial Wealth Management LLC bought a new stake in shares of Conagra Brands during the 3rd quarter valued at about $47,000. Finally, Kennebec Savings Bank acquired a new position in Conagra Brands during the 3rd quarter valued at about $59,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.1 %

NYSE:CAG opened at $27.80 on Tuesday. The firm has a 50-day moving average of $29.17 and a 200-day moving average of $29.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a one year low of $26.21 and a one year high of $33.24. The company has a market cap of $13.27 billion, a PE ratio of 27.01, a PEG ratio of 2.84 and a beta of 0.31.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The business’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. As a group, equities research analysts expect that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.04%. Conagra Brands’s payout ratio is currently 135.92%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CAG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Bank of America dropped their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group started coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $31.63.

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.