Kornitzer Capital Management Inc. KS Boosts Holdings in Conagra Brands, Inc. (NYSE:CAG)

Kornitzer Capital Management Inc. KS boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 734,629 shares of the company’s stock after acquiring an additional 19,609 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Conagra Brands were worth $21,054,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Naples Money Management LLC purchased a new stake in Conagra Brands during the fourth quarter valued at approximately $26,000. Clear Street Markets LLC lifted its position in Conagra Brands by 93.2% during the first quarter. Clear Street Markets LLC now owns 935 shares of the company’s stock valued at $35,000 after acquiring an additional 451 shares during the last quarter. Riverview Trust Co lifted its position in Conagra Brands by 132.8% during the third quarter. Riverview Trust Co now owns 945 shares of the company’s stock valued at $26,000 after acquiring an additional 539 shares during the last quarter. Thompson Investment Management Inc. lifted its position in Conagra Brands by 100.0% during the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after acquiring an additional 500 shares during the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Conagra Brands during the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $30.62 on Friday. The company’s fifty day moving average price is $28.83 and its 200 day moving average price is $28.52. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $38.73. The company has a market capitalization of $14.64 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 3.07 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. On average, research analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.57%. The ex-dividend date is Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.

Analyst Ratings Changes

CAG has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Barclays increased their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Royal Bank of Canada cut their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 3rd. Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Finally, Citigroup increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $33.14.

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.