Savoir Faire Capital Management L.P. Buys New Stake in Conagra Brands, Inc. (NYSE:CAG)

Savoir Faire Capital Management L.P. bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 142,199 shares of the company's stock, valued at approximately $3,946,000. Conagra Brands accounts for 1.9% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 23rd largest position.

Several other institutional investors have also recently made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands during the fourth quarter valued at $28,000. Riverview Trust Co purchased a new stake in Conagra Brands during the 4th quarter valued at $29,000. Grove Bank & Trust grew its position 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 during the period. SBI Securities Co. Ltd. bought a new position in Conagra Brands in the 4th quarter worth $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands during the fourth quarter valued at $44,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Down 0.2 %

Shares of CAG traded down $0.04 during mid-day trading on Monday, hitting $25.29. The company's stock had a trading volume of 610,972 shares, compared to its average volume of 5,111,222. 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's 50-day moving average is $25.77 and its 200-day moving average is $26.89. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The firm has a market capitalization of $12.07 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal 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 given a dividend of $0.35 per share. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a yield of 5.54%. Conagra Brands's dividend payout ratio is currently 205.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CAG shares. Stifel Nicolaus decreased their target price on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price target 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. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. JPMorgan Chase & Co. decreased their target price on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Finally, Barclays increased their price objective on shares of Conagra Brands from $27.00 to $29.00 and gave the company an "overweight" rating in a report on Monday, April 7th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Conagra Brands has an average rating of "Hold" and an average target price of $27.90.

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.