QSM Asset Management Ltd Takes $7.43 Million Position in Conagra Brands, Inc. (NYSE:CAG)

QSM Asset Management Ltd purchased a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 270,229 shares of the company's stock, valued at approximately $7,430,000. Conagra Brands makes up about 6.4% of QSM Asset Management Ltd's investment portfolio, making the stock its 4th largest holding. QSM Asset Management Ltd owned 0.06% of Conagra Brands as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $18,124,000. LifeWealth Investments LLC bought a new stake in shares of Conagra Brands during the 4th quarter worth $252,000. Polar Asset Management Partners Inc. bought a new stake in shares of Conagra Brands in the 4th quarter worth approximately $2,590,000. Vermillion Wealth Management Inc. bought a new position in Conagra Brands during the 4th quarter worth approximately $239,000. Finally, Mackenzie Financial Corp raised its stake in shares of Conagra Brands by 128.6% during the fourth quarter. Mackenzie Financial Corp now owns 90,658 shares of the company's stock valued at $2,516,000 after acquiring an additional 51,005 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Price Performance

Shares of Conagra Brands stock traded up $0.19 during trading hours on Friday, reaching $22.86. The stock had a trading volume of 8,306,481 shares, compared to its average volume of 5,430,454. The stock's 50 day moving average is $24.49 and its 200 day moving average is $25.77. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a twelve month low of $21.98 and a twelve month high of $33.24. The firm has a market capitalization of $10.91 billion, a PE ratio of 22.41, a PEG ratio of 1.76 and a beta of 0.18.

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

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.12%. The ex-dividend date was Monday, April 28th. Conagra Brands's payout ratio is 205.88%.

Analyst Ratings Changes

CAG has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Barclays dropped their target price on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. Stifel Nicolaus cut their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their price target on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Morgan Stanley began coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $27.50.

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.