Empowered Funds LLC Has $952,000 Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Empowered Funds LLC increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 328.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,318 shares of the company’s stock after acquiring an additional 26,314 shares during the quarter. Empowered Funds LLC’s holdings in Conagra Brands were worth $952,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands during the 4th quarter valued at $28,000. Grove Bank & Trust grew its holdings in shares of 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 in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Conagra Brands during the third quarter valued at $47,000. ST Germain D J Co. Inc. lifted its stake in Conagra Brands by 36.2% in the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after acquiring an additional 529 shares in the last quarter. Finally, Kennebec Savings Bank acquired a new stake in Conagra Brands during the 3rd quarter worth about $59,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Up 1.3 %

CAG stock opened at $25.31 on Tuesday. 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 firm has a market cap of $12.08 billion, a PE ratio of 24.81, a PEG ratio of 1.70 and a beta of 0.28. Conagra Brands, Inc. has a 1 year low of $24.18 and a 1 year high of $33.24. The company has a fifty day simple moving average of $26.41 and a 200 day simple moving average of $28.67.

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

Conagra Brands Dividend Announcement

The business also recently declared 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 of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.53%. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

Analysts Set New Price Targets

CAG has been the subject of a number of research analyst reports. Barclays reduced their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Bank of America dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. decreased their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.33.

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.