Tectonic Advisors LLC Grows Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Tectonic Advisors LLC increased its stake in Conagra Brands, Inc. (NYSE:CAG) by 21.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,807 shares of the company’s stock after buying an additional 3,521 shares during the period. Tectonic Advisors LLC’s holdings in Conagra Brands were worth $550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Conagra Brands in the fourth quarter worth $28,000. Hexagon Capital Partners LLC increased its holdings in shares of 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 acquiring an additional 420 shares in the last quarter. Grove Bank & Trust raised its position 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 worth $31,000 after purchasing an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in Conagra Brands in the 3rd quarter worth about $47,000. Finally, ST Germain D J Co. Inc. grew its position in Conagra Brands by 36.2% during the 4th quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after purchasing an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CAG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Citigroup decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Wells Fargo & Company cut their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Finally, Stifel Nicolaus dropped their price objective on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Stock Performance

Shares of CAG opened at $25.10 on Thursday. The firm has a market capitalization of $11.98 billion, a P/E ratio of 24.61, a PEG ratio of 1.76 and a beta of 0.28. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a one year low of $24.85 and a one year high of $33.24. The business has a fifty day moving average of $26.83 and a 200 day moving average of $28.96.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the company posted $0.71 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.58%. Conagra Brands’s payout ratio is presently 137.25%.

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.