Qsemble Capital Management LP Purchases 40,284 Shares of Conagra Brands, Inc. (NYSE:CAG)

Qsemble Capital Management LP lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 76.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 93,064 shares of the company’s stock after purchasing an additional 40,284 shares during the period. Qsemble Capital Management LP’s holdings in Conagra Brands were worth $3,026,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Aigen Investment Management LP bought a new stake in Conagra Brands during the third quarter valued at about $1,020,000. Pacer Advisors Inc. grew its stake in shares of Conagra Brands by 21,015.0% during the 3rd quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock valued at $346,495,000 after acquiring an additional 10,604,367 shares during the period. Wedge Capital Management L L P NC purchased a new stake in Conagra Brands in the 3rd quarter worth approximately $3,829,000. Swedbank AB purchased a new position in Conagra Brands during the first quarter valued at approximately $18,268,000. Finally, Ontario Teachers Pension Plan Board purchased a new position in Conagra Brands during the third quarter valued at approximately $967,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $27.46 on Tuesday. The firm has a market cap of $13.11 billion, a PE ratio of 26.66, a PEG ratio of 2.82 and a beta of 0.34. The stock has a 50 day moving average of $29.57 and a 200 day moving average of $29.88. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12 month low of $26.21 and a 12 month high of $33.24.

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

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.10%. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Wall Street Analyst Weigh In

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

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.