Disciplined Equity Management Inc. Makes New $1.06 Million Investment in Conagra Brands, Inc. (NYSE:CAG)

Disciplined Equity Management Inc. bought a new stake in Conagra Brands, Inc. (NYSE:CAG) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 35,780 shares of the company’s stock, valued at approximately $1,061,000. Conagra Brands accounts for about 0.7% of Disciplined Equity Management Inc.’s portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in CAG. Pacer Advisors Inc. raised its position in Conagra Brands by 188.3% in the fourth quarter. Pacer Advisors Inc. now owns 153,336 shares of the company’s stock valued at $4,395,000 after purchasing an additional 100,141 shares during the period. Teacher Retirement System of Texas grew its position in Conagra Brands by 316.6% in the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock valued at $4,414,000 after acquiring an additional 117,042 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Conagra Brands by 120.3% during the third quarter. The Manufacturers Life Insurance Company now owns 859,656 shares of the company’s stock valued at $23,572,000 after purchasing an additional 469,421 shares during the period. Valley Wealth Managers Inc. lifted its position in shares of Conagra Brands by 7.7% during the fourth quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after purchasing an additional 37,149 shares in the last quarter. Finally, Adams Asset Advisors LLC acquired a new stake in Conagra Brands during the 4th quarter valued at $7,690,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CAG. Citigroup decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, June 28th. Barclays upped their target price on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus increased their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company cut their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday. Ten analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $32.38.

Conagra Brands Stock Performance

CAG traded down $0.44 on Thursday, hitting $28.37. 13,580,982 shares of the company’s stock were exchanged, compared to its average volume of 4,765,235. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average of $29.55 and a two-hundred day moving average of $29.22. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $33.60. The firm has a market cap of $13.56 billion, a PE ratio of 14.08, a P/E/G ratio of 2.76 and a beta of 0.32.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 1st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.93%. Conagra Brands’s dividend payout ratio is currently 70.35%.

Insider Activity at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

About Conagra Brands

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.