Conagra Brands $CAG Shares Purchased by Signaturefd LLC

Key Points

• Signaturefd LLC significantly increased its stake in Conagra Brands by 161.5%, owning 25,870 shares valued at $530,000 after purchasing an additional 15,976 shares during the second quarter.
• Conagra Brands reported earnings per share (EPS) of $0.56, which missed expectations, with quarterly revenues also down by 4.3% year-over-year at $2.78 billion.
• The company declared a quarterly dividend of $0.35 per share, representing an annual yield of 7.7%, with the dividend payout ratio currently at 58.58%.

Signaturefd LLC raised its stake in Conagra Brands (NYSE:CAG - Free Report) by 161.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,870 shares of the company's stock after buying an additional 15,976 shares during the quarter. Signaturefd LLC's holdings in Conagra Brands were worth $530,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CAG. Patton Fund Management Inc. purchased a new stake in shares of Conagra Brands in the 2nd quarter valued at approximately $200,000. ST Germain D J Co. Inc. increased its holdings in Conagra Brands by 130.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company's stock valued at $41,000 after purchasing an additional 1,129 shares during the last quarter. Dakota Wealth Management raised its position in Conagra Brands by 9.2% in the second quarter. Dakota Wealth Management now owns 41,170 shares of the company's stock valued at $843,000 after purchasing an additional 3,480 shares during the period. Sylvest Advisors LLC acquired a new position in Conagra Brands during the second quarter worth $636,000. Finally, Jeppson Wealth Management LLC boosted its position in shares of Conagra Brands by 6.8% during the second quarter. Jeppson Wealth Management LLC now owns 23,615 shares of the company's stock worth $483,000 after buying an additional 1,512 shares during the period. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $18.29 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a 52 week low of $17.89 and a 52 week high of $32.90. The firm's 50 day moving average is $18.98 and its two-hundred day moving average is $21.71. The firm has a market capitalization of $8.76 billion, a P/E ratio of 7.65, a P/E/G ratio of 1.73 and a beta of 0.07.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.05). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The company had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same quarter in the previous year, the company posted $0.61 EPS. The company's quarterly revenue was down 4.3% on a year-over-year basis. Research analysts forecast that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date is Thursday, October 30th. Conagra Brands's dividend payout ratio (DPR) is currently 58.58%.

Wall Street Analysts Forecast Growth

CAG has been the topic of several research analyst reports. Royal Bank Of Canada cut their price objective on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday, July 11th. UBS Group dropped their target price on Conagra Brands from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, September 24th. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 25th. Morgan Stanley raised their price objective on shares of Conagra Brands from $20.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 24th. Finally, Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $21.83.

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.

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