76,628 Shares in Conagra Brands $CAG Acquired by Capricorn Fund Managers Ltd

Capricorn Fund Managers Ltd bought a new stake in Conagra Brands (NYSE:CAG) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 76,628 shares of the company’s stock, valued at approximately $1,205,000.

Several other hedge funds have also recently added to or reduced their stakes in CAG. NewEdge Advisors LLC raised its position in shares of Conagra Brands by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after buying an additional 954 shares in the last quarter. United Services Automobile Association bought a new position in shares of Conagra Brands in the first quarter valued at approximately $225,000. Empowered Funds LLC boosted its holdings in shares of Conagra Brands by 5.9% in the first quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after acquiring an additional 2,038 shares in the last quarter. Woodline Partners LP increased its stake in shares of Conagra Brands by 40.7% during the first quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock valued at $1,075,000 after acquiring an additional 11,664 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in shares of Conagra Brands by 3.9% during the second quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock valued at $1,033,000 after acquiring an additional 1,900 shares during the period. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

CAG opened at $13.45 on Wednesday. The firm has a market cap of $6.44 billion, a PE ratio of -134.49 and a beta of -0.02. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $13.66 and a 200-day simple moving average of $16.00. Conagra Brands has a fifty-two week low of $12.53 and a fifty-two week high of $21.37.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. As a group, equities analysts predict that Conagra Brands will post 1.7 EPS for the current fiscal year.

Analysts Set New Price Targets

CAG has been the subject of a number of research analyst reports. Royal Bank Of Canada cut their target price on Conagra Brands from $17.00 to $16.00 and set a “sector perform” rating for the company in a research report on Thursday, June 25th. Evercore dropped their price objective on Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. UBS Group cut their price objective on Conagra Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Morgan Stanley decreased their target price on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $14.13.

Insiders Place Their Bets

In related news, Director Richard H. Lenny acquired 25,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were purchased at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the acquisition, the director owned 229,340 shares in the company, valued at approximately $3,288,735.60. This represents a 12.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Mulligan acquired 17,500 shares of Conagra Brands stock in a transaction on Tuesday, April 14th. The shares were purchased at an average cost of $14.31 per share, with a total value of $250,425.00. Following the completion of the purchase, the director directly owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. This represents a 542.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.57% of the company’s stock.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.