GAMMA Investing LLC Boosts Stake in Conagra Brands, Inc. (NYSE:CAG)

GAMMA Investing LLC raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 2,180.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 422,853 shares of the company's stock after buying an additional 404,310 shares during the quarter. GAMMA Investing LLC owned about 0.09% of Conagra Brands worth $11,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in Conagra Brands during the fourth quarter worth about $29,000. AdvisorNet Financial Inc grew its position in Conagra Brands by 86.1% during the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after buying an additional 690 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands in the 4th quarter worth about $41,000. Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands in the 4th quarter worth about $44,000. Finally, Asset Planning Inc purchased a new position in shares of Conagra Brands in the 4th quarter worth about $53,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Wells Fargo & Company cut their price objective on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating for the company in a report on Monday, June 2nd. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. cut their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $27.10.

Conagra Brands Trading Up 0.5%

NYSE CAG opened at $22.37 on Friday. Conagra Brands, Inc. has a 1-year low of $21.98 and a 1-year high of $33.24. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a 50-day moving average of $24.05 and a 200-day moving average of $25.57. The firm has a market cap of $10.68 billion, a PE ratio of 21.93, a price-to-earnings-growth ratio of 1.76 and a beta of 0.14.

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

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Monday, April 28th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands's payout ratio is 205.88%.

About Conagra Brands

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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