Quarry LP Grows Position in Conagra Brands, Inc. (NYSE:CAG)

Quarry LP grew its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 229.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,820 shares of the company’s stock after acquiring an additional 1,268 shares during the quarter. Quarry LP’s holdings in Conagra Brands were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CAG. Courier Capital LLC grew its position in Conagra Brands by 1.3% in the 3rd quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after purchasing an additional 355 shares in the last quarter. CWM LLC grew its holdings in shares of Conagra Brands by 0.4% in the third quarter. CWM LLC now owns 87,222 shares of the company’s stock valued at $2,836,000 after acquiring an additional 359 shares in the last quarter. Empirical Finance LLC increased its position in shares of Conagra Brands by 2.3% during the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after acquiring an additional 362 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in Conagra Brands by 0.7% during the third quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after acquiring an additional 376 shares during the period. Finally, Bridgewater Advisors Inc. boosted its position in Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after purchasing an additional 376 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 1.8 %

Shares of CAG stock opened at $27.72 on Tuesday. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 26.91, a PEG ratio of 2.80 and a beta of 0.31. The company’s fifty day simple moving average is $28.59 and its two-hundred day simple moving average is $29.65. Conagra Brands, Inc. has a 1 year low of $26.21 and a 1 year high of $33.24. 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 (NYSE:CAG) last released its quarterly earnings data 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 net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter in the previous year, the firm posted $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Analyst Upgrades and Downgrades

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