Investment Management Corp of Ontario Acquires 5,300 Shares of Conagra Brands, Inc. (NYSE:CAG)

Investment Management Corp of Ontario boosted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 49.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,938 shares of the company’s stock after acquiring an additional 5,300 shares during the quarter. Investment Management Corp of Ontario’s holdings in Conagra Brands were worth $518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in Conagra Brands in the second quarter valued at about $25,000. Chilton Capital Management LLC bought a new stake in shares of Conagra Brands in the second quarter worth about $25,000. Hexagon Capital Partners LLC raised its holdings in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the period. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the 3rd quarter valued at about $47,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Conagra Brands in the third quarter valued at approximately $59,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Trading Down 2.1 %

CAG stock opened at $27.24 on Friday. Conagra Brands, Inc. has a 52 week low of $26.21 and a 52 week high of $33.24. The company has a market capitalization of $13.00 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 2.81 and a beta of 0.31. The company’s 50-day simple moving average is $28.69 and its 200 day simple moving average is $29.67. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94.

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

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st were issued a $0.35 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 5.14%. Conagra Brands’s dividend payout ratio is presently 135.92%.

Analyst Ratings Changes

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

Conagra Brands Company 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.