Red Spruce Capital LLC Acquires 4,136 Shares of Conagra Brands, Inc. (NYSE:CAG)

Red Spruce Capital LLC grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 7.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 57,366 shares of the company’s stock after purchasing an additional 4,136 shares during the period. Red Spruce Capital LLC’s holdings in Conagra Brands were worth $1,592,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its position in Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after purchasing an additional 420 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands during the 4th quarter worth approximately $28,000. Grove Bank & Trust boosted its holdings in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after buying an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the 3rd quarter valued at approximately $47,000. Finally, Kennebec Savings Bank bought a new position in shares of Conagra Brands in the third quarter valued at $59,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $25.70 on Wednesday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 12-month low of $25.35 and a 12-month high of $33.24. The company’s 50 day moving average price is $27.17 and its two-hundred day moving average price is $29.22. The firm has a market cap of $12.27 billion, a PE ratio of 25.19, a PEG ratio of 1.75 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 EPS. Equities research analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.45%. The ex-dividend date is Monday, January 27th. Conagra Brands’s payout ratio is presently 137.26%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CAG shares. Bank of America dropped their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, December 20th. Barclays cut their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research note on Monday, December 23rd. JPMorgan Chase & Co. lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Citigroup decreased their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Seven analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.56.

Conagra Brands 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.