Symons Capital Management Inc. lessened its position in shares of Conagra Brands Inc (NYSE:CAG) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 186,464 shares of the company’s stock after selling 21,372 shares during the quarter. Conagra Brands makes up 2.6% of Symons Capital Management Inc.’s holdings, making the stock its 17th biggest position. Symons Capital Management Inc.’s holdings in Conagra Brands were worth $5,721,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CAG. Pennsylvania Trust Co grew its position in Conagra Brands by 3.1% during the second quarter. Pennsylvania Trust Co now owns 25,250 shares of the company’s stock valued at $670,000 after buying an additional 750 shares during the period. Kwmg LLC grew its position in Conagra Brands by 4.7% during the second quarter. Kwmg LLC now owns 81,333 shares of the company’s stock valued at $2,157,000 after buying an additional 3,643 shares during the period. Xact Kapitalforvaltning AB grew its position in Conagra Brands by 8.0% during the second quarter. Xact Kapitalforvaltning AB now owns 94,926 shares of the company’s stock valued at $2,517,000 after buying an additional 6,997 shares during the period. Nisa Investment Advisors LLC grew its position in Conagra Brands by 3.1% during the second quarter. Nisa Investment Advisors LLC now owns 195,211 shares of the company’s stock valued at $5,177,000 after buying an additional 5,865 shares during the period. Finally, Old Port Advisors grew its position in Conagra Brands by 9.4% during the second quarter. Old Port Advisors now owns 81,277 shares of the company’s stock valued at $2,297,000 after buying an additional 7,012 shares during the period. Institutional investors own 86.26% of the company’s stock.
In other news, EVP Colleen Batcheler sold 25,458 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.00, for a total transaction of $763,740.00. Following the transaction, the executive vice president now owns 169,873 shares of the company’s stock, valued at $5,096,190. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Thomas M. Mcgough sold 26,099 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total value of $809,069.00. Following the transaction, the chief operating officer now directly owns 145,869 shares in the company, valued at approximately $4,521,939. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.
NYSE:CAG traded down $0.36 during trading hours on Friday, reaching $27.44. The company had a trading volume of 2,586,227 shares, compared to its average volume of 5,833,551. The stock has a 50-day moving average of $28.29 and a two-hundred day moving average of $28.69. Conagra Brands Inc has a one year low of $20.22 and a one year high of $35.72. The firm has a market capitalization of $13.44 billion, a PE ratio of 13.65, a PEG ratio of 1.86 and a beta of 0.84. The company has a quick ratio of 0.40, a current ratio of 1.11 and a debt-to-equity ratio of 1.37.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 26th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Conagra Brands had a return on equity of 12.34% and a net margin of 6.68%. The business’s revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. As a group, sell-side analysts expect that Conagra Brands Inc will post 2.12 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.
Several analysts recently commented on the stock. ValuEngine upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Citigroup lifted their target price on shares of Conagra Brands from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Barclays set a $33.00 target price on shares of Conagra Brands and gave the company a “buy” rating in a research report on Friday, September 27th. Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and lowered their target price for the company from $33.00 to $31.00 in a research note on Friday, September 6th. Finally, Royal Bank of Canada initiated coverage on Conagra Brands in a report on Thursday, October 17th. They set a “sector perform” rating and a $30.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $33.33.
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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