Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Bayesian Capital Management LP

Bayesian Capital Management LP raised its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 10.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 117,400 shares of the company's stock after acquiring an additional 10,900 shares during the quarter. Bayesian Capital Management LP's holdings in Conagra Brands were worth $3,258,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brookstone Capital Management lifted its holdings in Conagra Brands by 18.4% during the 4th quarter. Brookstone Capital Management now owns 399,454 shares of the company's stock valued at $11,085,000 after buying an additional 62,187 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Conagra Brands by 41.0% in the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock valued at $2,175,000 after purchasing an additional 22,790 shares during the period. Nordea Investment Management AB increased its holdings in Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company's stock worth $341,048,000 after purchasing an additional 618,096 shares during the period. Sound Income Strategies LLC raised its position in Conagra Brands by 13.2% during the 4th quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock valued at $3,756,000 after purchasing an additional 15,834 shares in the last quarter. Finally, Machina Capital S.A.S. purchased a new stake in shares of Conagra Brands in the 4th quarter worth $558,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of NYSE:CAG traded down $0.17 during midday trading on Tuesday, reaching $23.35. The company's stock had a trading volume of 4,541,934 shares, compared to its average volume of 5,149,613. The firm has a market capitalization of $11.14 billion, a PE ratio of 22.89, a P/E/G ratio of 1.76 and a beta of 0.18. The stock has a fifty day moving average of $25.59 and a 200 day moving average of $26.49. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month 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.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Conagra Brands's revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 6.00%. Conagra Brands's payout ratio is 205.88%.

Analyst Ratings Changes

CAG has been the subject of a number of analyst reports. Stifel Nicolaus lowered their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $33.00 to $26.00 in a report on Monday, February 24th. JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday. Morgan Stanley began coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price for the company. Finally, Wells Fargo & Company reduced their price target on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of "Hold" and a consensus price target of $27.80.

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.