44,356 Shares in Conagra Brands, Inc. (NYSE:CAG) Bought by Entropy Technologies LP

Entropy Technologies LP acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,356 shares of the company’s stock, valued at approximately $1,231,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp grew its holdings in shares of Conagra Brands by 7.4% during the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock worth $796,229,000 after buying an additional 1,691,945 shares during the last quarter. Nordea Investment Management AB lifted its position in Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock worth $341,048,000 after acquiring an additional 618,096 shares during the period. Geode Capital Management LLC grew its stake in shares of Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock valued at $373,180,000 after purchasing an additional 196,100 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after purchasing an additional 10,604,367 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its stake in shares of Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock worth $204,571,000 after purchasing an additional 122,590 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CAG. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Finally, Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Price Performance

CAG stock opened at $24.51 on Tuesday. The firm has a 50 day moving average of $26.66 and a 200-day moving average of $28.85. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 1.70 and a beta of 0.28. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 12-month low of $24.35 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the business earned $0.71 earnings per share. Conagra Brands’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.71%. Conagra Brands’s dividend payout ratio (DPR) is currently 137.26%.

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.