Hardy Reed LLC Makes New $328,000 Investment in Conagra Brands, Inc. (NYSE:CAG)

Hardy Reed LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 11,836 shares of the company’s stock, valued at approximately $328,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Conagra Brands during the 4th quarter worth approximately $28,000. Grove Bank & Trust grew its position in Conagra Brands by 65.4% during 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 in the last quarter. Stonebridge Financial Group LLC purchased a new position in Conagra Brands during the 4th quarter worth approximately $44,000. Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands during the 3rd quarter valued at $47,000. Finally, Asset Planning Inc purchased a new position in shares of Conagra Brands during the 4th quarter valued at $53,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CAG. Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Wednesday. Barclays lowered their price target on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $29.78.

Conagra Brands Trading Up 1.5 %

Shares of NYSE:CAG opened at $24.27 on Thursday. The stock has a market capitalization of $11.58 billion, a PE ratio of 23.79, a P/E/G ratio of 1.63 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. The firm has a fifty day moving average price of $26.26 and a 200 day moving average price of $28.59. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.71 EPS. Analysts expect that Conagra Brands, Inc. will post 2.45 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date is Monday, January 27th. Conagra Brands’s dividend payout ratio is 137.26%.

Conagra Brands Company 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.