Trexquant Investment LP Buys 137,217 Shares of Conagra Brands $CAG

Key Points

• Trexquant Investment LP increased its stake in Conagra Brands by 125.7% during the first quarter, acquiring an additional 137,217 shares to bring its total holdings to 246,415 shares worth $6,572,000.
• Conagra Brands reported quarterly earnings of $0.56 EPS, missing expectations, with revenue of $2.78 billion, a decline of 4.3% year-over-year.
• The company announced a quarterly dividend of $0.35 per share, representing an annual yield of 7.3%, with a payout ratio of 58.58% as of the latest filing.

Trexquant Investment LP lifted its holdings in Conagra Brands (NYSE:CAG - Free Report) by 125.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 246,415 shares of the company's stock after purchasing an additional 137,217 shares during the period. Trexquant Investment LP owned 0.05% of Conagra Brands worth $6,572,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CAG. Alpine Bank Wealth Management bought a new position in shares of Conagra Brands in the first quarter worth about $26,000. Capital Advisors Ltd. LLC increased its stake in shares of Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after purchasing an additional 452 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Conagra Brands in the first quarter worth about $27,000. Golden State Wealth Management LLC increased its stake in shares of Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after purchasing an additional 741 shares during the period. Finally, Wayfinding Financial LLC bought a new position in shares of Conagra Brands in the first quarter worth about $34,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of CAG traded down $0.14 on Thursday, hitting $19.07. The company's stock had a trading volume of 5,398,223 shares, compared to its average volume of 8,086,257. The company has a market capitalization of $9.13 billion, a PE ratio of 7.98, a PEG ratio of 1.83 and a beta of 0.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. Conagra Brands has a fifty-two week low of $18.18 and a fifty-two week high of $33.24. The company has a 50 day moving average price of $19.44 and a 200 day moving average price of $22.65.

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

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, July 30th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 7.3%. The ex-dividend date was Wednesday, July 30th. Conagra Brands's payout ratio is 58.58%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CAG. JPMorgan Chase & Co. began coverage on Conagra Brands in a research report on Wednesday, August 20th. They set a "neutral" rating and a $20.00 target price on the stock. Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the stock a "market perform" rating in a research report on Friday, July 11th. UBS Group decreased their target price on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report 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 on the stock in a research report on Friday, July 11th. Finally, Royal Bank Of Canada decreased their target price on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, July 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $22.17.

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.