Voloridge Investment Management LLC Has $10.20 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Voloridge Investment Management LLC trimmed its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 8.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 367,562 shares of the company's stock after selling 32,867 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.08% of Conagra Brands worth $10,200,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Woodline Partners LP bought a new stake in Conagra Brands in the fourth quarter worth about $795,000. Vident Advisory LLC raised its holdings in Conagra Brands by 21.5% during the 4th quarter. Vident Advisory LLC now owns 55,699 shares of the company's stock worth $1,546,000 after buying an additional 9,869 shares during the period. Twinbeech Capital LP acquired a new stake in Conagra Brands during the 4th quarter worth about $13,323,000. Two Sigma Advisers LP raised its holdings in 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. Finally, Two Sigma Investments LP raised its holdings in Conagra Brands by 10.6% during the 4th quarter. Two Sigma Investments LP now owns 4,738,404 shares of the company's stock worth $131,491,000 after buying an additional 454,163 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE:CAG traded up $0.13 during midday trading on Friday, reaching $22.80. The company's stock had a trading volume of 1,142,943 shares, compared to its average volume of 5,402,251. Conagra Brands, Inc. has a fifty-two week low of $21.98 and a fifty-two week high of $33.24. The company has a market capitalization of $10.88 billion, a P/E ratio of 22.30, a P/E/G ratio of 1.76 and a beta of 0.18. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The business's fifty day simple moving average is $24.49 and its 200-day simple moving average is $25.77.

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

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.14%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands's payout ratio is presently 205.88%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CAG. Stifel Nicolaus lowered 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 target price on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Barclays lowered their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $27.50.

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.