78,986 Shares in Conagra Brands $CAG Acquired by Marathon Trading Investment Management LLC

Key Points

• Marathon Trading Investment Management disclosed a new fourth-quarter position in Conagra Brands, buying 78,986 shares worth about $1.37 million.
• Institutional interest remains high, with hedge funds and other investors owning 83.75% of Conagra’s shares; several firms also increased their stakes during recent quarters.
• Conagra’s latest quarter showed mixed results: EPS missed estimates by $0.01 while revenue topped forecasts, and analysts remain cautious with an average rating of “Reduce” and a target price around $14.33.

Marathon Trading Investment Management LLC purchased a new position in shares of Conagra Brands (NYSE:CAG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 78,986 shares of the company's stock, valued at approximately $1,367,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. NewEdge Advisors LLC lifted its position in Conagra Brands by 4.2% during the first quarter. NewEdge Advisors LLC now owns 23,541 shares of the company's stock valued at $628,000 after purchasing an additional 954 shares during the period. United Services Automobile Association acquired a new stake in Conagra Brands during the 1st quarter worth about $225,000. Empowered Funds LLC raised its stake in shares of Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company's stock valued at $970,000 after buying an additional 2,038 shares during the last quarter. Woodline Partners LP raised its stake in shares of Conagra Brands by 40.7% during the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company's stock valued at $1,075,000 after buying an additional 11,664 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in shares of Conagra Brands by 3.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company's stock valued at $1,033,000 after buying an additional 1,900 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE CAG opened at $13.73 on Monday. The stock has a market capitalization of $6.57 billion, a price-to-earnings ratio of -137.31 and a beta of -0.02. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $22.49. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average of $14.05 and a 200 day moving average of $16.34.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The firm's revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. Sell-side analysts anticipate that Conagra Brands will post 1.7 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a yield of 10.2%. Conagra Brands's dividend payout ratio (DPR) is currently -1,400.00%.

Insider Buying and Selling at Conagra Brands

In related news, Director Richard H. Lenny acquired 25,000 shares of the firm's stock in a transaction on Tuesday, April 14th. The shares were acquired at an average cost of $14.34 per share, with a total value of $358,500.00. Following the completion of the acquisition, the director directly owned 229,340 shares in the company, valued at approximately $3,288,735.60. This trade represents a 12.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John J. Mulligan bought 17,500 shares of the company's stock in a transaction dated Tuesday, April 14th. The stock was bought at an average price of $14.31 per share, for a total transaction of $250,425.00. Following the transaction, the director owned 20,728 shares of the company's stock, valued at approximately $296,617.68. This trade represents a 542.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CAG. Wall Street Zen upgraded Conagra Brands from a "sell" rating to a "hold" rating in a research note on Saturday, February 21st. Deutsche Bank Aktiengesellschaft reduced their price target on Conagra Brands from $18.00 to $14.00 and set a "hold" rating for the company in a research report on Monday, March 30th. Zacks Research lowered Conagra Brands from a "hold" rating to a "strong sell" rating in a research report on Monday, May 11th. Morgan Stanley dropped their price objective on shares of Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating on the stock in a research note on Friday, June 5th. Finally, Jefferies Financial Group cut their target price on shares of Conagra Brands from $15.00 to $13.00 and set a "hold" rating for the company in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average target price of $14.33.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra's product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender's and Banquet in the frozen foods category, as well as Hunt's sauces, Orville Redenbacher's popcorn, Slim Jim meat snacks and Reddi-wip toppings.

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