Savoir Faire Capital Management L.P. Grows Stock Position in Conagra Brands (NYSE:CAG)

Savoir Faire Capital Management L.P. boosted its stake in Conagra Brands (NYSE:CAG - Free Report) by 16.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,036 shares of the company's stock after acquiring an additional 23,837 shares during the period. Conagra Brands accounts for 3.9% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 7th largest position. Savoir Faire Capital Management L.P.'s holdings in Conagra Brands were worth $4,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of Conagra Brands by 49.2% during the 4th quarter. Farther Finance Advisors LLC now owns 4,846 shares of the company's stock valued at $134,000 after buying an additional 1,599 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Conagra Brands by 182.0% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 46,539 shares of the company's stock valued at $1,291,000 after acquiring an additional 30,035 shares during the period. Xponance Inc. boosted its holdings in shares of Conagra Brands by 0.8% during the fourth quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after acquiring an additional 505 shares during the period. iA Global Asset Management Inc. boosted its holdings in shares of Conagra Brands by 10.8% during the fourth quarter. iA Global Asset Management Inc. now owns 42,081 shares of the company's stock valued at $1,168,000 after acquiring an additional 4,118 shares during the period. Finally, Northwest & Ethical Investments L.P. acquired a new position in shares of Conagra Brands during the fourth quarter valued at $1,173,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Up 0.5%

Shares of NYSE CAG traded up $0.09 during mid-day trading on Friday, reaching $19.06. 9,686,943 shares of the company's stock were exchanged, compared to its average volume of 6,113,074. The firm has a market capitalization of $9.10 billion, a price-to-earnings ratio of 7.97, a PEG ratio of 1.82 and a beta of 0.11. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $21.54 and a 200 day simple moving average of $24.15. Conagra Brands has a twelve month low of $18.80 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates 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 $2,781,800 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The firm's revenue for the quarter was down 4.3% compared to the same quarter last year. As a group, equities analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.35%. Conagra Brands's payout ratio is 58.58%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAG. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Wells Fargo & Company lowered their price target on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 9th. Morgan Stanley lowered their price target on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating for the company in a research note on Friday, July 11th. Evercore ISI decreased their target price on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating for the company in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. cut their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.58.

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.