Duality Advisers LP Invests $1.72 Million in Conagra Brands, Inc. (NYSE:CAG)

Duality Advisers LP bought a new stake in Conagra Brands, Inc. (NYSE:CAG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 58,155 shares of the company’s stock, valued at approximately $1,724,000.

Several other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of Conagra Brands by 7.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock valued at $155,000 after acquiring an additional 373 shares during the period. Czech National Bank increased its position in shares of Conagra Brands by 0.5% in the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock valued at $2,493,000 after acquiring an additional 392 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Conagra Brands by 5.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock valued at $226,000 after purchasing an additional 403 shares during the last quarter. Summit Financial Wealth Advisors LLC boosted its holdings in Conagra Brands by 1.1% in the first quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock valued at $1,184,000 after purchasing an additional 430 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Conagra Brands by 48.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after purchasing an additional 454 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Up 0.1 %

Shares of CAG stock traded up $0.04 during trading on Friday, hitting $28.42. 2,943,288 shares of the stock traded hands, compared to its average volume of 4,750,203. The firm has a market capitalization of $13.59 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 2.80 and a beta of 0.32. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The firm’s fifty day moving average price is $29.50 and its 200-day moving average price is $29.21. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $33.60.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The company had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 earnings per share. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be paid a $0.35 dividend. The ex-dividend date is Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.93%. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday. Evercore ISI lowered their target price 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. Citigroup dropped 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, June 28th. Wells Fargo & Company dropped their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada dropped their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” 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. According to data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average target price of $32.00.

Insiders Place Their Bets

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the transaction, the executive vice president now owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.88% of the company’s stock.

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.