Callan Family Office LLC Acquires Shares of 50,984 Conagra Brands, Inc. (NYSE:CAG)

Callan Family Office LLC acquired a new stake in Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 50,984 shares of the company’s stock, valued at approximately $1,415,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new position in Conagra Brands during the 4th quarter worth $16,588,000. Arizona State Retirement System lifted its position in Conagra Brands by 1.2% during the fourth quarter. Arizona State Retirement System now owns 138,624 shares of the company’s stock worth $3,847,000 after purchasing an additional 1,618 shares during the period. Proficio Capital Partners LLC bought a new stake in Conagra Brands during the fourth quarter worth about $2,035,000. SPC Financial Inc. lifted its position in Conagra Brands by 18.0% during the fourth quarter. SPC Financial Inc. now owns 15,700 shares of the company’s stock worth $436,000 after purchasing an additional 2,400 shares during the period. Finally, Commerzbank Aktiengesellschaft FI bought a new stake in Conagra Brands during the fourth quarter worth about $666,000. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America cut their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Stifel Nicolaus decreased their price objective on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price objective on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Barclays dropped their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.33.

Conagra Brands Stock Performance

NYSE:CAG opened at $27.25 on Friday. The stock’s 50-day moving average is $25.83 and its 200-day moving average is $28.26. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. 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 stock has a market cap of $13.00 billion, a P/E ratio of 26.71, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last posted its 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 firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. Equities research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Monday, January 27th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend was Monday, January 27th. Conagra Brands’s dividend payout ratio is currently 137.25%.

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.