Park Place Capital Corp Raises Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Park Place Capital Corp boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 11,901 shares of the company’s stock after purchasing an additional 1,190 shares during the period. Park Place Capital Corp’s holdings in Conagra Brands were worth $353,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CAG. Pacer Advisors Inc. boosted its holdings in Conagra Brands by 188.3% in the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock worth $4,395,000 after buying an additional 100,141 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Conagra Brands by 316.6% during the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after purchasing an additional 117,042 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Conagra Brands by 120.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock valued at $23,572,000 after buying an additional 469,421 shares during the last quarter. Valley Wealth Managers Inc. increased its holdings in shares of Conagra Brands by 7.7% in the 4th quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock valued at $14,840,000 after acquiring an additional 37,149 shares during the period. Finally, Adams Asset Advisors LLC purchased a new stake in shares of Conagra Brands in the fourth quarter valued at about $7,690,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Barclays increased their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wells Fargo & Company raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Finally, Citigroup decreased their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $33.00.

Conagra Brands Price Performance

CAG opened at $28.30 on Tuesday. The company has a 50 day moving average of $29.93 and a two-hundred day moving average of $29.25. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $34.38. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The company has a market cap of $13.53 billion, a P/E ratio of 14.22, a P/E/G ratio of 2.76 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. On average, analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.95%. The ex-dividend date was Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Insider Activity at Conagra Brands

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the sale, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.88% of the company’s stock.

Conagra Brands 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.