Fruth Investment Management Acquires 39,100 Shares of Conagra Brands $CAG

Fruth Investment Management raised its holdings in shares of Conagra Brands (NYSE:CAG) by 81.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 87,100 shares of the company’s stock after purchasing an additional 39,100 shares during the quarter. Fruth Investment Management’s holdings in Conagra Brands were worth $1,369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CYBER HORNET ETFs LLC bought a new position in shares of Conagra Brands in the second quarter valued at about $26,000. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands during the 2nd quarter worth about $29,000. Harbour Investments Inc. grew 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 buying an additional 701 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in Conagra Brands by 156.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after acquiring an additional 1,029 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Conagra Brands in the 3rd quarter valued at about $33,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Trading Up 2.0%

Shares of CAG stock opened at $14.06 on Friday. The stock has a market cap of $6.73 billion, a P/E ratio of -140.59, a price-to-earnings-growth ratio of -0.85 and a beta of -0.02. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $21.37. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. The stock has a 50 day simple moving average of $13.71 and a 200 day simple moving average of $16.06.

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

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 10.0%. The ex-dividend date was Thursday, April 30th. Conagra Brands’s dividend payout ratio is presently -1,400.00%.

Insider Activity

In other news, Director Richard H. Lenny purchased 25,000 shares of Conagra Brands stock in a transaction that occurred on Tuesday, April 14th. The shares were acquired at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the transaction, the director owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. The trade was a 12.23% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John J. Mulligan acquired 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was purchased at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of 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. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CAG shares. The Goldman Sachs Group decreased their target price on Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, June 18th. Jefferies Financial Group decreased their price objective on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. Zacks Research cut Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Finally, BTIG Research initiated coverage on Conagra Brands in a report on Monday, April 13th. They set a “neutral” rating for the company. One 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. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $14.13.

About Conagra Brands

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.