Entropy Technologies LP Takes $3.77 Million Position in Conagra Brands $CAG

Entropy Technologies LP bought a new stake in shares of Conagra Brands (NYSE:CAG) during the fourth quarter, Holdings Channel reports. The fund bought 217,726 shares of the company’s stock, valued at approximately $3,769,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CAG. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands during the 2nd quarter valued at approximately $26,000. Harbour Investments Inc. raised its stake in Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in Conagra Brands in the 2nd quarter valued at $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Conagra Brands in the 3rd quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Conagra Brands by 100.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CAG shares. JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. Evercore reduced their price objective on Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. Morgan Stanley reduced their price objective 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. Weiss Ratings raised Conagra Brands from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday. Finally, Jefferies Financial Group reduced their price objective on Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $14.33.

Conagra Brands Stock Down 0.1%

Shares of CAG opened at $13.73 on Monday. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $22.49. The company has a market capitalization of $6.57 billion, a PE ratio of -137.31 and a beta of -0.02. The stock has a fifty day simple moving average of $14.05 and a two-hundred day simple moving average of $16.34. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79.

Conagra Brands (NYSE:CAG) last issued 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 during the quarter, compared to analyst estimates of $2.76 billion. During the same period last year, the business earned $0.51 earnings per share. The firm’s revenue was down 1.9% compared to the same quarter last year. As a group, equities analysts forecast that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, April 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.2%. Conagra Brands’s dividend payout ratio (DPR) is -1,400.00%.

Insiders Place Their Bets

In related news, Director John J. Mulligan bought 17,500 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was acquired at an average cost of $14.31 per share, with a total value of $250,425.00. Following the purchase, the director directly owned 20,728 shares of the company’s stock, valued at $296,617.68. The trade was a 542.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard H. Lenny bought 25,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was bought at an average cost of $14.34 per share, with a total value of $358,500.00. Following the completion of the purchase, the director directly owned 229,340 shares in the company, valued at approximately $3,288,735.60. The trade was a 12.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.57% of the stock is owned by company insiders.

Conagra Brands Company 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.