Wedge Capital Management L L P NC Purchases 12,363 Shares of Conagra Brands, Inc. (NYSE:CAG)

Wedge Capital Management L L P NC grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,098 shares of the company’s stock after acquiring an additional 12,363 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Conagra Brands were worth $3,610,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in Conagra Brands by 17.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock worth $122,602,000 after buying an additional 633,794 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Conagra Brands in the second quarter valued at $6,831,000. Mercer Global Advisors Inc. ADV increased its position in shares of Conagra Brands by 27.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 76,898 shares of the company’s stock valued at $2,185,000 after buying an additional 16,700 shares during the period. Amalgamated Bank boosted its position in shares of Conagra Brands by 32.8% during the second quarter. Amalgamated Bank now owns 132,296 shares of the company’s stock valued at $3,760,000 after purchasing an additional 32,708 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Conagra Brands by 3.7% during the 2nd quarter. Hsbc Holdings PLC now owns 954,278 shares of the company’s stock valued at $27,114,000 after buying an additional 34,131 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Friday, December 20th. JPMorgan Chase & Co. lowered their price objective on shares of 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. Bank of America reduced their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, December 20th. Finally, Wells Fargo & Company decreased their price objective 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. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.56.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $25.83 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The firm has a market cap of $12.33 billion, a PE ratio of 25.32, a PEG ratio of 1.76 and a beta of 0.29. Conagra Brands, Inc. has a 12 month low of $25.35 and a 12 month high of $33.24. The stock has a 50 day moving average of $27.25 and a 200 day moving average of $29.25.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS. On average, research analysts expect that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.42%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is currently 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.