Kennondale Capital Management LLC Invests $331,000 in Conagra Brands, Inc. (NYSE:CAG)

Kennondale Capital Management LLC bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,942 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Conagra Brands during the 4th quarter worth approximately $28,000. Riverview Trust Co acquired a new stake in Conagra Brands during the 4th quarter worth approximately $29,000. Grove Bank & Trust lifted its holdings 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 during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands during the 4th quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Conagra Brands during the 4th quarter worth approximately $44,000. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $26.10 on Tuesday. The stock has a market capitalization of $12.46 billion, a PE ratio of 25.59, a P/E/G ratio of 1.76 and a beta of 0.18. 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 business has a fifty day moving average price of $25.67 and a two-hundred day moving average price of $27.99. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, topping 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 company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the previous year, the firm earned $0.71 EPS. Conagra Brands’s revenue was down .4% on a year-over-year basis. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CAG has been the subject of several research reports. Barclays dropped their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Citigroup dropped their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Bank of America dropped 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. Stifel Nicolaus dropped their price target on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Finally, Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.33.

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.