Lecap Asset Management Ltd. Makes New Investment in Conagra Brands (NYSE:CAG)

Lecap Asset Management Ltd. acquired a new stake in shares of Conagra Brands (NYSE:CAG - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 36,510 shares of the company's stock, valued at approximately $974,000.

Several other institutional investors have also modified their holdings of CAG. Capital Advisors Ltd. LLC lifted its stake in Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after buying an additional 452 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Conagra Brands in the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Conagra Brands in the fourth quarter worth approximately $41,000. AdvisorNet Financial Inc boosted its stake in shares of Conagra Brands by 86.1% in the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company's stock worth $40,000 after acquiring an additional 690 shares during the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Conagra Brands during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analyst Weigh In

CAG has been the topic of a number of research reports. Wells Fargo & Company decreased their price objective on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a report on Monday, June 2nd. Bank of America lowered shares of Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price target for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Barclays cut their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. The Goldman Sachs Group lowered shares of Conagra Brands from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $26.00 to $21.00 in a research note on Monday, June 9th. Finally, UBS Group assumed coverage on Conagra Brands in a research report on Monday, June 16th. They issued a "neutral" rating and a $22.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.36.

Conagra Brands Trading Down 0.5%

CAG traded down $0.11 during trading hours on Friday, reaching $20.39. The company's stock had a trading volume of 11,421,600 shares, compared to its average volume of 5,710,610. The stock has a market cap of $9.73 billion, a PE ratio of 29.99, a P/E/G ratio of 1.52 and a beta of 0.14. Conagra Brands has a fifty-two week low of $20.27 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23. The business's 50-day moving average is $22.79 and its 200-day moving average is $24.97.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a net margin of 2.80% and a return on equity of 12.94%. Conagra Brands's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.69 EPS. As a group, equities research analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business 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 dividend yield of 6.87%. The ex-dividend date was Monday, April 28th. Conagra Brands's dividend payout ratio is presently 205.88%.

Conagra Brands Company 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.