Kimelman & Baird LLC Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Kimelman & Baird LLC bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,865 shares of the company’s stock, valued at approximately $224,000.

A number of other institutional investors also recently bought and sold shares of CAG. Marshall Wace LLP raised its stake in Conagra Brands by 1,362.6% during the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares during the period. Federated Hermes Inc. increased its position in shares of Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after acquiring an additional 1,871,238 shares during the last quarter. AMF Tjanstepension AB acquired a new stake in shares of Conagra Brands during the first quarter valued at about $47,980,000. Squarepoint Ops LLC increased its position in shares of Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock valued at $72,048,000 after acquiring an additional 1,513,726 shares during the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of Conagra Brands during the fourth quarter valued at about $36,069,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CAG shares. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Citigroup dropped their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Royal Bank of Canada dropped their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target for the company. Finally, Bank of America lifted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.10.

Conagra Brands Stock Up 0.2 %

Shares of Conagra Brands stock opened at $32.52 on Tuesday. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $33.24. The company has a 50 day moving average of $31.22 and a 200 day moving average of $30.23. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $15.55 billion, a P/E ratio of 44.55, a P/E/G ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were given a dividend of $0.35 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.31%. Conagra Brands’s dividend payout ratio is presently 191.78%.

Insider Transactions at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.