Freestone Grove Partners LP Purchases New Position in Conagra Brands, Inc. (NYSE:CAG)

Freestone Grove Partners LP acquired a new position in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 802,788 shares of the company's stock, valued at approximately $22,277,000. Freestone Grove Partners LP owned 0.17% of Conagra Brands at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands in the 4th quarter valued at approximately $28,000. Riverview Trust Co bought a new stake in shares of Conagra Brands during the 4th quarter valued at $29,000. Grove Bank & Trust grew its position in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after buying an additional 447 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Conagra Brands in the 4th quarter worth about $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands during the 4th quarter valued at about $44,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $24.18 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm's 50-day moving average price is $25.72 and its 200-day moving average price is $26.64. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The company has a market cap of $11.54 billion, a PE ratio of 23.70, a PEG ratio of 1.76 and a beta of 0.27.

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 company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. As a group, analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.79%. Conagra Brands's dividend payout ratio is currently 205.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CAG. JPMorgan Chase & Co. decreased their target price on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company lowered their price objective on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Barclays increased their target price on Conagra Brands from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Monday, April 7th. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Finally, Morgan Stanley assumed 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 issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $27.90.

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.

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands, Inc. (NYSE:CAG - Free Report).

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.