American International Group Inc. lessened its holdings in shares of Conagra Brands Inc. (NYSE:CAG) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,928 shares of the company’s stock after selling 19,401 shares during the quarter. American International Group Inc.’s holdings in Conagra Brands were worth $4,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Sun Life Financial INC boosted its stake in shares of Conagra Brands by 32,666.7% during the 2nd quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after acquiring an additional 2,940 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Conagra Brands by 143.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after acquiring an additional 1,851 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Conagra Brands by 57.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock worth $168,000 after acquiring an additional 1,705 shares during the last quarter. Krilogy Financial LLC boosted its stake in shares of Conagra Brands by 7.7% during the 2nd quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock worth $185,000 after acquiring an additional 370 shares during the last quarter. Finally, Evercore Wealth Management LLC boosted its stake in shares of Conagra Brands by 12.9% during the 2nd quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock worth $226,000 after acquiring an additional 725 shares during the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.
CAG has been the topic of several analyst reports. BidaskClub cut shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and lifted their target price for the company from $36.00 to $38.00 in a research note on Sunday, October 29th. They noted that the move was a valuation call. Credit Suisse Group lowered their target price on shares of Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, September 25th. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, November 22nd. Finally, Jefferies Group restated a “buy” rating and set a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $40.03.
In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of the business’s stock in a transaction on Wednesday, November 29th. The shares were 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 owns 211,514 shares in the company, valued at approximately $7,931,775. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.
Conagra Brands Inc. (NYSE:CAG) opened at $37.08 on Thursday. The firm has a market cap of $15,183.87, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.80 and a beta of 0.37. Conagra Brands Inc. has a one year low of $32.16 and a one year high of $41.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 1.03.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS. research analysts expect that Conagra Brands Inc. will post 1.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Friday, October 13th were paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Monday, October 30th. Conagra Brands’s payout ratio is currently 60.28%.
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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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