Flagship Harbor Advisors LLC boosted its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 3,494.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,131 shares of the company’s stock after purchasing an additional 8,877 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Conagra Brands were worth $253,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of CAG. Norges Bank purchased a new stake in Conagra Brands during the 4th quarter worth approximately $123,197,000. FMR LLC increased its holdings in shares of Conagra Brands by 66.8% in the 4th quarter. FMR LLC now owns 11,151,772 shares of the company’s stock valued at $238,201,000 after acquiring an additional 4,467,041 shares during the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Conagra Brands by 138.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,347,652 shares of the company’s stock valued at $71,506,000 after acquiring an additional 1,943,380 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Conagra Brands by 36.8% in the 4th quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock valued at $146,052,000 after acquiring an additional 1,840,875 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Conagra Brands by 118.1% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 2,937,709 shares of the company’s stock valued at $62,749,000 after acquiring an additional 1,590,664 shares during the last quarter. Institutional investors own 84.82% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Bank of America set a $30.00 price target on Conagra Brands and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays reiterated a “buy” rating and issued a $30.00 price target on shares of Conagra Brands in a report on Sunday, December 23rd. Credit Suisse Group set a $39.00 price target on Conagra Brands and gave the company a “hold” rating in a report on Thursday, December 20th. Zacks Investment Research downgraded Conagra Brands from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Finally, Goldman Sachs Group set a $32.00 price target on Conagra Brands and gave the company a “buy” rating in a report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. Conagra Brands currently has an average rating of “Buy” and a consensus price target of $37.90.
Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, March 21st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. On average, equities analysts forecast that Conagra Brands Inc will post 2.07 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Tuesday, April 30th will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $0.85 dividend on an annualized basis and a yield of 2.82%. Conagra Brands’s dividend payout ratio is currently 40.28%.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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