Gilman Hill Asset Management LLC Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Gilman Hill Asset Management LLC purchased a new stake in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 350,862 shares of the company’s stock, valued at approximately $9,736,000. Conagra Brands accounts for about 1.7% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 9th largest position.

Several other large investors have also recently made changes to their positions in the stock. Hexagon Capital Partners LLC raised its position in 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 purchasing an additional 420 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands in the 4th quarter valued at $28,000. Grove Bank & Trust lifted its stake in Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in Conagra Brands during the 3rd quarter valued at about $47,000. Finally, Kennebec Savings Bank acquired a new position in Conagra Brands in the 3rd quarter valued at about $59,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Price Performance

CAG stock opened at $25.83 on Monday. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 1.76 and a beta of 0.29. Conagra Brands, Inc. has a fifty-two week low of $25.35 and a fifty-two week high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $27.25 and a 200 day moving average price of $29.25.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.42%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is currently 137.25%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CAG shares. Bank of America reduced their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. JPMorgan Chase & Co. cut their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Wells Fargo & Company cut their price target on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.56.

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.