Eos Focused Equity Management L.P. Has $3.16 Million Position in Conagra Brands Inc (CAG)

Eos Focused Equity Management L.P. increased its position in Conagra Brands Inc (NYSE:CAG) by 24.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 83,892 shares of the company’s stock after purchasing an additional 16,728 shares during the period. Conagra Brands accounts for 5.1% of Eos Focused Equity Management L.P.’s investment portfolio, making the stock its 8th largest holding. Eos Focused Equity Management L.P.’s holdings in Conagra Brands were worth $3,160,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vantage Investment Advisors LLC raised its position in Conagra Brands by 625.7% during the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after purchasing an additional 2,578 shares during the period. Meeder Asset Management Inc. purchased a new stake in Conagra Brands during the fourth quarter valued at approximately $161,000. Strategic Financial Services Inc purchased a new stake in Conagra Brands during the fourth quarter valued at approximately $203,000. Iberiabank Corp purchased a new stake in Conagra Brands during the fourth quarter valued at approximately $207,000. Finally, Kovack Advisors Inc. purchased a new stake in Conagra Brands during the fourth quarter valued at approximately $222,000. Institutional investors own 79.77% of the company’s stock.

Shares of Conagra Brands Inc (NYSE:CAG) opened at $35.56 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.11 and a debt-to-equity ratio of 0.86. Conagra Brands Inc has a fifty-two week low of $32.16 and a fifty-two week high of $41.68. The firm has a market capitalization of $14,247.51, a P/E ratio of 19.12, a PEG ratio of 2.32 and a beta of 0.27.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 21st. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. research analysts anticipate that Conagra Brands Inc will post 1.92 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be issued a $0.213 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.40%. This is an increase from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, January 29th. Conagra Brands’s dividend payout ratio is presently 50.90%.

In other news, EVP Colleen Batcheler sold 120,451 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $37.50, for a total value of $4,516,912.50. Following the sale, the executive vice president now directly owns 211,514 shares in the company, valued at $7,931,775. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joie A. Gregor sold 5,250 shares of the stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 154,121 shares of company stock worth $5,793,780. Company insiders own 0.79% of the company’s stock.

A number of equities research analysts have issued reports on CAG shares. Stifel Nicolaus upgraded Conagra Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Wednesday, November 22nd. UBS Group upgraded Conagra Brands from a “sell” rating to a “neutral” rating and upped their price objective for the company from $33.00 to $37.00 in a research report on Tuesday, December 12th. Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. Finally, Credit Suisse Group set a $40.00 price objective on Conagra Brands and gave the company a “hold” rating in a research report on Monday, December 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $41.00.

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About Conagra Brands

Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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