Dark Forest Capital Management LP raised its position in shares of Conagra Brands, Inc. (NYSE:CAG – Free Report) by 1,314.0% in the first quarter, HoldingsChannel reports. The firm owned 2,220 shares of the company’s stock after acquiring an additional 2,063 shares during the period. Dark Forest Capital Management LP’s holdings in Conagra Brands were worth $83,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Institutional & Family Asset Management LLC bought a new position in Conagra Brands in the 1st quarter worth approximately $26,000. Delta Asset Management LLC TN bought a new stake in shares of Conagra Brands during the fourth quarter valued at about $27,000. Core Alternative Capital acquired a new stake in Conagra Brands in the first quarter worth about $31,000. ST Germain D J Co. Inc. acquired a new stake in Conagra Brands in the fourth quarter worth about $33,000. Finally, Tradition Wealth Management LLC grew its position in Conagra Brands by 641.6% in the 1st quarter. Tradition Wealth Management LLC now owns 927 shares of the company’s stock valued at $35,000 after buying an additional 802 shares in the last quarter. Institutional investors and hedge funds own 84.27% of the company’s stock.
Conagra Brands Trading Down 0.6 %
NYSE CAG opened at $28.89 on Friday. Conagra Brands, Inc. has a twelve month low of $28.80 and a twelve month high of $41.30. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 0.76. The stock has a market cap of $13.78 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 2.93 and a beta of 0.55. The firm’s 50 day moving average price is $31.66 and its two-hundred day moving average price is $34.60.
Conagra Brands Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 31st. Shareholders of record on Monday, July 31st were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.85%. The ex-dividend date was Friday, July 28th. This is a boost from Conagra Brands’s previous quarterly dividend of $0.33. Conagra Brands’s payout ratio is 98.59%.
Insider Buying and Selling at Conagra Brands
In other Conagra Brands news, COO Thomas M. Mcgough sold 75,522 shares of Conagra Brands stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $33.07, for a total transaction of $2,497,512.54. Following the transaction, the chief operating officer now owns 157,125 shares of the company’s stock, valued at approximately $5,196,123.75. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on CAG shares. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, August 21st. TheStreet lowered Conagra Brands from a “b” rating to a “c+” rating in a research note on Thursday, July 13th. Jefferies Financial Group dropped their price objective on Conagra Brands from $38.00 to $35.00 in a research note on Friday, July 14th. Morgan Stanley cut Conagra Brands from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $46.00 to $37.00 in a research note on Monday, July 17th. Finally, Barclays dropped their price target on shares of Conagra Brands from $42.00 to $39.00 in a research report on Friday, July 14th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average price target of $38.08.
Check Out Our Latest Report on Conagra Brands
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.
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