Townsquare Capital LLC Invests $283,000 in Conagra Brands, Inc. (NYSE:CAG)

Townsquare Capital LLC purchased a new position in Conagra Brands, Inc. (NYSE:CAG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,714 shares of the company’s stock, valued at approximately $283,000.

Several other large investors have also recently modified their holdings of the stock. Federated Hermes Inc. raised its position in shares of Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after purchasing an additional 1,871,238 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Conagra Brands by 21,015.0% in the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of 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 purchasing an additional 633,794 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Conagra Brands by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,102,985 shares of the company’s stock worth $100,909,000 after purchasing an additional 63,738 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after purchasing an additional 1,513,726 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group initiated coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Bank of America decreased their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.63.

Conagra Brands Trading Down 2.1 %

Conagra Brands stock opened at $27.24 on Friday. The business has a 50-day simple moving average of $28.69 and a two-hundred day simple moving average of $29.68. The company has a market cap of $13.00 billion, a P/E ratio of 26.45, a P/E/G ratio of 2.85 and a beta of 0.31. Conagra Brands, Inc. has a 52-week low of $26.21 and a 52-week high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. Analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, October 31st were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.14%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

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.