AGF Investments Inc. Makes New $342,000 Investment in Conagra Brands, Inc. (NYSE:CAG)


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AGF Investments Inc. bought a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,437 shares of the company’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Clearstead Advisors LLC lifted its holdings in shares of Conagra Brands by 102.0% in the 3rd quarter. Clearstead Advisors LLC now owns 808 shares of the company’s stock worth $29,000 after buying an additional 408 shares during the period. Patriot Financial Group Insurance Agency LLC lifted its stake in Conagra Brands by 10,010.0% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,011 shares of the company’s stock worth $37,000 after acquiring an additional 1,001 shares during the period. Kinloch Capital LLC bought a new position in Conagra Brands during the 4th quarter worth about $42,000. Ellevest Inc. increased its position in Conagra Brands by 2,337.7% during the 4th quarter. Ellevest Inc. now owns 1,292 shares of the company’s stock valued at $47,000 after purchasing an additional 1,239 shares during the period. Finally, Biltmore Capital Advisors LLC bought a new stake in shares of Conagra Brands in the 3rd quarter valued at about $57,000. Hedge funds and other institutional investors own 82.11% of the company’s stock.

Shares of NYSE:CAG opened at $34.48 on Tuesday. The business’s 50-day moving average is $34.38 and its 200 day moving average is $35.90. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.35. Conagra Brands, Inc. has a 1 year low of $22.83 and a 1 year high of $39.34. The firm has a market capitalization of $16.85 billion, a P/E ratio of 15.19, a P/E/G ratio of 1.86 and a beta of 0.86.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, January 6th. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.07. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $2.98 billion. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. The company’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, analysts expect that Conagra Brands, Inc. will post 2.6 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 3rd. Shareholders of record on Friday, January 29th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, January 28th. Conagra Brands’s dividend payout ratio is presently 48.25%.

CAG has been the topic of several research reports. Jefferies Financial Group initiated coverage on shares of Conagra Brands in a report on Friday, January 8th. They set a “buy” rating and a $41.00 price objective on the stock. Credit Suisse Group restated a “sell” rating and set a $33.00 price objective on shares of Conagra Brands in a research note on Thursday, January 21st. Finally, Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a research note on Monday, January 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Conagra Brands presently has a consensus rating of “Hold” and an average target price of $35.36.

In related news, Director Richard H. Lenny purchased 10,000 shares of the firm’s stock in a transaction on Friday, January 8th. The stock was acquired at an average price of $33.70 per share, with a total value of $337,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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