Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Argyle Capital Management LLC

Argyle Capital Management LLC boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.7% in the fourth quarter, Holdings Channel reports. The fund owned 30,745 shares of the company’s stock after purchasing an additional 4,400 shares during the period. Argyle Capital Management LLC’s holdings in Conagra Brands were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands during the fourth quarter worth approximately $28,000. Grove Bank & Trust increased its stake in 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 period. Stonebridge Financial Group LLC purchased a new position in Conagra Brands during the 4th quarter worth $44,000. Kennebec Savings Bank acquired a new stake in shares of Conagra Brands in the 3rd quarter worth $59,000. Finally, Quarry LP lifted its stake in shares of Conagra Brands by 229.7% in the 3rd quarter. Quarry LP now owns 1,820 shares of the company’s stock worth $59,000 after acquiring an additional 1,268 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

NYSE CAG opened at $25.56 on Friday. The business has a 50 day moving average price of $26.01 and a 200 day moving average price of $28.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The company has a market capitalization of $12.20 billion, a P/E ratio of 25.06, a PEG ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share 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 analysts’ expectations of $3.15 billion. During the same quarter last year, the business posted $0.71 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Shareholders of record on Monday, January 27th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.48%. The ex-dividend date was Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.25%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CAG shares. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 18th. Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Bank of America reduced their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Barclays dropped their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Finally, Stifel Nicolaus reduced their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average price target of $28.67.

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.