EntryPoint Capital LLC Purchases 698 Shares of Conagra Brands, Inc. (NYSE:CAG)

EntryPoint Capital LLC grew its position in Conagra Brands, Inc. (NYSE:CAG) by 39.7% during the first quarter, HoldingsChannel.com reports. The fund owned 2,454 shares of the company’s stock after acquiring an additional 698 shares during the quarter. EntryPoint Capital LLC’s holdings in Conagra Brands were worth $73,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. HB Wealth Management LLC purchased a new stake in shares of Conagra Brands in the fourth quarter valued at $264,000. Pacer Advisors Inc. lifted its holdings in Conagra Brands by 188.3% during the 4th quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock valued at $4,395,000 after buying an additional 100,141 shares in the last quarter. Blue Trust Inc. boosted its position in Conagra Brands by 31.7% in the 4th quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock valued at $55,000 after buying an additional 473 shares during the period. Caprock Group LLC boosted its holdings in shares of Conagra Brands by 6.8% in the fourth quarter. Caprock Group LLC now owns 16,648 shares of the company’s stock valued at $477,000 after purchasing an additional 1,058 shares during the period. Finally, Quent Capital LLC grew its position in shares of Conagra Brands by 313.4% during the 4th quarter. Quent Capital LLC now owns 1,666 shares of the company’s stock worth $48,000 after buying an additional 1,263 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 1.4 %

CAG stock opened at $29.94 on Friday. The company has a market capitalization of $14.31 billion, a P/E ratio of 41.01, a price-to-earnings-growth ratio of 2.59 and a beta of 0.32. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $33.39. The firm’s fifty day simple moving average is $29.21 and its 200-day simple moving average is $29.27. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating the consensus estimate 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 net margin of 2.88% and a return on equity of 14.31%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 earnings per share. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 1st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s dividend payout ratio is currently 191.78%.

Insider Buying and Selling at Conagra Brands

In other news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CAG has been the topic of several research reports. Evercore ISI cut their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Royal Bank of Canada lowered their price objective on 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. Citigroup lowered their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Barclays lowered their target price on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Stifel Nicolaus cut their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Ten investment analysts have rated the stock with a hold rating and one has given a 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 $31.18.

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.