Twinbeech Capital LP Acquires Shares of 480,125 Conagra Brands, Inc. (NYSE:CAG)

Twinbeech Capital LP acquired a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 480,125 shares of the company's stock, valued at approximately $13,323,000. Twinbeech Capital LP owned approximately 0.10% of Conagra Brands at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $168,877,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $110,704,000. Two Sigma Advisers LP grew its position in shares of Conagra Brands by 33.9% during the 4th quarter. Two Sigma Advisers LP now owns 8,135,000 shares of the company's stock worth $225,746,000 after buying an additional 2,058,000 shares during the period. Deutsche Bank AG grew its position in shares of Conagra Brands by 51.6% during the 4th quarter. Deutsche Bank AG now owns 5,664,293 shares of the company's stock worth $157,184,000 after buying an additional 1,928,883 shares during the period. Finally, Invesco Ltd. grew its position in shares of Conagra Brands by 18.5% during the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after buying an additional 1,745,319 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Up 0.1%

CAG stock opened at $23.01 on Tuesday. The stock has a market capitalization of $10.98 billion, a P/E ratio of 22.56, a price-to-earnings-growth 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, Inc. has a 12 month low of $22.38 and a 12 month high of $33.24. The firm has a 50-day moving average price of $25.01 and a 200-day moving average price of $26.06.

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 company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.69 EPS. As a group, equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.08%. The ex-dividend date is Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

Analyst Ratings Changes

CAG has been the subject of several analyst reports. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. Barclays lowered their price target on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Wells Fargo & Company lowered their price target on shares of 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. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced 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. 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 presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.