Invenomic Capital Management LP Has $6.27 Million Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Invenomic Capital Management LP decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 225,792 shares of the company's stock after selling 35,143 shares during the period. Invenomic Capital Management LP's holdings in Conagra Brands were worth $6,266,000 at the end of the most recent reporting period.

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

Conagra Brands Trading Down 1.7%

Shares of CAG stock traded down $0.40 on Wednesday, hitting $22.43. The stock had a trading volume of 953,289 shares, compared to its average volume of 5,245,860. Conagra Brands, Inc. has a twelve month low of $22.42 and a twelve month high of $33.24. The firm has a market cap of $10.71 billion, a P/E ratio of 21.99, a PEG 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. The company has a fifty day moving average price of $25.33 and a two-hundred day moving average price of $26.27.

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 analysts' consensus estimates of $0.52 by ($0.01). The company 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 earnings per share. As a group, analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be issued a $0.35 dividend. 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 6.24%. Conagra Brands's payout ratio is 205.88%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company cut their target price on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group downgraded 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 report on Monday, February 24th. Morgan Stanley started coverage on Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price target on the stock. Finally, Stifel Nicolaus decreased their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research report on Wednesday, February 19th. Nine 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $27.50.

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.