Red Spruce Capital LLC Has $1.73 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Red Spruce Capital LLC increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,230 shares of the company’s stock after purchasing an additional 5,317 shares during the quarter. Red Spruce Capital LLC’s holdings in Conagra Brands were worth $1,731,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CAG. Innealta Capital LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth about $25,000. Chilton Capital Management LLC acquired a new position in Conagra Brands during the second quarter valued at approximately $25,000. Whittier Trust Co. increased its position in shares of Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Conagra Brands during the 1st quarter worth approximately $42,000. Finally, Security National Bank bought a new stake in shares of Conagra Brands during the 4th quarter worth approximately $48,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

NYSE CAG traded up $0.16 on Friday, reaching $29.51. The stock had a trading volume of 5,341,172 shares, compared to its average volume of 4,800,442. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The company has a market cap of $14.11 billion, a P/E ratio of 40.42, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32. The firm has a fifty day moving average of $31.28 and a two-hundred day moving average of $30.27. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the company posted $0.66 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a yield of 4.74%. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of recent analyst reports. Citigroup lowered their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Evercore ISI lowered their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday. Finally, The Goldman Sachs Group initiated coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.00.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

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.