Clifford Swan Investment Counsel LLC lowered its stake in Conagra Brands (NYSE:CAG) by 28.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,266 shares of the company’s stock after selling 10,260 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Conagra Brands were worth $969,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of CAG. Vantage Investment Advisors LLC increased its holdings in shares of Conagra Brands by 625.7% in the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after purchasing an additional 2,578 shares in the last quarter. NuWave Investment Management LLC acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $114,000. Envestnet Asset Management Inc. increased its holdings in shares of Conagra Brands by 94.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the company’s stock valued at $149,000 after purchasing an additional 1,923 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $161,000. Finally, Strategic Financial Services Inc acquired a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $203,000. 80.41% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on CAG shares. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, February 22nd. Jefferies Group reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Conagra Brands in a research note on Thursday, March 22nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Conagra Brands in a research note on Friday, March 23rd. JPMorgan Chase reduced their price objective on shares of Conagra Brands from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, March 23rd. Finally, UBS raised their price objective on shares of Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, March 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $41.67.
In other news, Director Stephen G. Butler sold 12,092 shares of Conagra Brands stock in a transaction on Friday, April 6th. The shares were sold at an average price of $37.18, for a total transaction of $449,580.56. Following the transaction, the director now directly owns 127,755 shares of the company’s stock, valued at $4,749,930.90. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ruth Ann Marshall sold 6,046 shares of Conagra Brands stock in a transaction on Monday, March 26th. The stock was sold at an average price of $35.86, for a total transaction of $216,809.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,046 shares of company stock worth $885,695. Insiders own 0.79% of the company’s stock.
Shares of Conagra Brands opened at $37.72 on Friday, Marketbeat reports. Conagra Brands has a 52-week low of $37.65 and a 52-week high of $37.83. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.31 and a beta of 0.28. The company has a current ratio of 1.03, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, March 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm earned $0.48 earnings per share. The business’s revenue for the quarter was up .7% on a year-over-year basis. equities analysts anticipate that Conagra Brands will post 2.05 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Monday, April 30th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $0.85 dividend on an annualized basis and a yield of 2.25%. Conagra Brands’s payout ratio is presently 48.85%.
Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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