Polar Asset Management Partners Inc. Takes Position in Conagra Brands, Inc. (NYSE:CAG)

Polar Asset Management Partners Inc. purchased a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 93,330 shares of the company's stock, valued at approximately $2,590,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Conagra Brands by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 58,798,952 shares of the company's stock worth $1,631,671,000 after buying an additional 1,132,839 shares during the period. Geode Capital Management LLC raised its stake in shares of Conagra Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,745,629 shares of the company's stock worth $325,096,000 after buying an additional 231,477 shares during the period. Invesco Ltd. raised its stake in shares of Conagra Brands by 18.5% during the 4th quarter. Invesco Ltd. now owns 11,161,355 shares of the company's stock worth $309,728,000 after buying an additional 1,745,319 shares during the period. Norges Bank acquired a new position in shares of Conagra Brands during the 4th quarter worth approximately $168,877,000. Finally, Deutsche Bank AG raised its stake in shares of Conagra Brands by 51.6% during the 4th quarter. Deutsche Bank AG now owns 5,664,293 shares of the company's stock worth $157,184,000 after buying an additional 1,928,883 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Down 1.1%

NYSE:CAG traded down $0.26 during trading hours on Thursday, hitting $22.22. The company had a trading volume of 5,590,084 shares, compared to its average volume of 5,333,335. 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 50-day moving average of $24.89 and a 200 day moving average of $26.02. The company has a market cap of $10.61 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1 year low of $21.98 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) 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 in the previous year, the company earned $0.69 earnings per share. The firm's quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio is currently 205.88%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CAG shares. Morgan Stanley started coverage on Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price target for the company. Barclays dropped their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. The Goldman Sachs Group cut Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. Wells Fargo & Company dropped their price target on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Finally, Stifel Nicolaus dropped their price target on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. Nine equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company 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.