Wedge Capital Management L L P NC Grows Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Wedge Capital Management L L P NC lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 26.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 164,287 shares of the company's stock after purchasing an additional 34,189 shares during the quarter. Wedge Capital Management L L P NC's holdings in Conagra Brands were worth $4,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its position in shares of Conagra Brands by 0.6% during the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock valued at $2,166,000 after acquiring an additional 429 shares during the last quarter. Summit Financial Wealth Advisors LLC increased its holdings in Conagra Brands by 1.3% in the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock valued at $1,030,000 after purchasing an additional 500 shares during the last quarter. CIBC Asset Management Inc increased its holdings in Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock valued at $2,346,000 after purchasing an additional 501 shares during the last quarter. Xponance Inc. raised its position in Conagra Brands by 0.8% in the fourth quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after purchasing an additional 505 shares during the period. Finally, International Private Wealth Advisors LLC lifted its stake in Conagra Brands by 5.2% during the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company's stock worth $295,000 after purchasing an additional 527 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Shares of Conagra Brands stock traded down $0.09 during trading on Wednesday, reaching $22.35. The company's stock had a trading volume of 5,902,607 shares, compared to its average volume of 5,482,418. The firm has a market cap of $10.67 billion, a PE ratio of 21.91, a P/E/G ratio of 1.76 and a beta of 0.14. The company has a 50-day moving average price of $23.88 and a two-hundred day moving average price of $25.50. 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 fifty-two week low of $21.98 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its 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 net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter last year, the business posted $0.69 earnings per share. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date was Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAG. Barclays cut their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 12th. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Wells Fargo & Company reduced their price objective on Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, June 2nd. Morgan Stanley assumed coverage on Conagra Brands in a research note on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. Finally, The Goldman Sachs Group downgraded shares of Conagra Brands from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $26.00 to $21.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $26.60.

Conagra Brands Company 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.