480,125 Shares in Conagra Brands, Inc. (NYSE:CAG) Purchased by Twinbeech Capital LP

Twinbeech Capital LP purchased a new position in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 480,125 shares of the company's stock, valued at approximately $13,323,000. Twinbeech Capital LP owned approximately 0.10% of Conagra Brands as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in Conagra Brands by 104.1% during the fourth quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock valued at $49,776,000 after purchasing an additional 914,820 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Conagra Brands by 41.0% during the fourth quarter. State of Alaska Department of Revenue now owns 78,414 shares of the company's stock valued at $2,175,000 after buying an additional 22,790 shares during the last quarter. Sound Income Strategies LLC raised its position in shares of Conagra Brands by 13.2% during the fourth quarter. Sound Income Strategies LLC now owns 135,352 shares of the company's stock valued at $3,756,000 after buying an additional 15,834 shares during the last quarter. Machina Capital S.A.S. bought a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $558,000. Finally, Forsta AP Fonden raised its position in shares of Conagra Brands by 8.9% during the fourth quarter. Forsta AP Fonden now owns 123,600 shares of the company's stock valued at $3,430,000 after buying an additional 10,100 shares during the last quarter. Institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 18th. The Goldman Sachs Group cut shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Barclays reduced their price objective on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. Finally, Morgan Stanley initiated 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 equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $27.50.

Conagra Brands Price Performance

CAG traded up $0.09 during trading hours on Friday, hitting $22.40. The company's stock had a trading volume of 6,785,018 shares, compared to its average volume of 5,388,378. The business's 50-day moving average price is $24.74 and its 200-day moving average price is $25.91. Conagra Brands, Inc. has a 12 month low of $21.98 and a 12 month high of $33.24. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 1.76 and a beta of 0.18. 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 (NYSE:CAG - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the firm earned $0.69 EPS. The company's revenue was down 6.3% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

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.