34,343 Shares in Conagra Brands, Inc. (NYSE:CAG) Bought by New Century Financial Group LLC

New Century Financial Group LLC bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 34,343 shares of the company's stock, valued at approximately $984,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Invesco Ltd. lifted its position in Conagra Brands by 37.1% in the third quarter. Invesco Ltd. now owns 9,675,187 shares of the company's stock valued at $265,294,000 after purchasing an additional 2,619,372 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Conagra Brands by 14.0% in the third quarter. American Century Companies Inc. now owns 14,171,413 shares of the company's stock worth $388,580,000 after acquiring an additional 1,737,380 shares during the last quarter. Barclays PLC grew its stake in shares of Conagra Brands by 75.7% in the third quarter. Barclays PLC now owns 3,748,848 shares of the company's stock worth $102,792,000 after acquiring an additional 1,614,986 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Conagra Brands by 18.7% during the fourth quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company's stock valued at $241,517,000 after buying an additional 1,330,249 shares during the last quarter. Finally, Qube Research & Technologies Ltd boosted its position in shares of Conagra Brands by 401.4% during the third quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company's stock valued at $41,663,000 after buying an additional 1,216,389 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Down 0.8 %

CAG traded down $0.26 during trading hours on Friday, hitting $30.73. 8,246,233 shares of the company's stock were exchanged, compared to its average volume of 3,938,643. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $36.51. The firm has a 50 day moving average of $30.07 and a 200 day moving average of $29.04. The firm has a market cap of $14.69 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 3.11 and a beta of 0.38. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm posted $0.76 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. Analysts predict that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.56%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands's dividend payout ratio (DPR) is presently 70.35%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CAG shares. Barclays raised their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an "equal weight" rating in a report on Friday, April 5th. Citigroup lifted their target price on Conagra Brands from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday, April 5th. Finally, Stifel Nicolaus boosted their price target on Conagra Brands from $29.00 to $32.00 and gave the company a "hold" rating in a report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Conagra Brands currently has a consensus rating of "Hold" and a consensus target price of $33.14.

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.