Royal Fund Management LLC acquired a new position in Conagra Brands Inc (NYSE:CAG) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,780 shares of the company’s stock, valued at approximately $52,000.
Several other institutional investors also recently modified their holdings of CAG. Danda Trouve Investment Management Inc. purchased a new stake in shares of Conagra Brands in the fourth quarter worth approximately $29,000. Citizens Financial Group Inc RI raised its stake in shares of Conagra Brands by 567.6% in the first quarter. Citizens Financial Group Inc RI now owns 988 shares of the company’s stock worth $29,000 after purchasing an additional 840 shares during the last quarter. RMR Wealth Builders purchased a new stake in shares of Conagra Brands in the fourth quarter worth approximately $32,000. Samalin Investment Counsel LLC purchased a new stake in shares of Conagra Brands during the fourth quarter valued at approximately $34,000. Finally, Tobam purchased a new stake in shares of Conagra Brands during the first quarter valued at approximately $36,000. 84.67% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Conagra Brands from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Sanford C. Bernstein raised Conagra Brands from an “underperform” rating to a “market perform” rating and increased their price target for the company from $26.00 to $30.00 in a research report on Wednesday, March 18th. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, April 15th. ValuEngine raised Conagra Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, March 17th. Finally, Standpoint Research downgraded Conagra Brands from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.47.
In other news, Director Jana Partners Llc sold 5,619 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $34.48, for a total value of $193,743.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas K. Brown sold 7,336 shares of Conagra Brands stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $32.44, for a total value of $237,979.84. The disclosure for this sale can be found here. Insiders sold 287,296 shares of company stock valued at $9,923,922 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.
Conagra Brands stock opened at $32.68 on Friday. Conagra Brands Inc has a one year low of $22.83 and a one year high of $35.59. The business has a fifty day moving average price of $33.10 and a 200-day moving average price of $30.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.87 and a quick ratio of 0.34. The firm has a market capitalization of $15.71 billion, a P/E ratio of 20.82, a PEG ratio of 2.11 and a beta of 0.82.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.47 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.02). Conagra Brands had a return on equity of 12.08% and a net margin of 7.37%. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.59 billion. During the same period in the previous year, the business earned $0.51 earnings per share. Conagra Brands’s revenue was down 5.6% on a year-over-year basis. Sell-side analysts expect that Conagra Brands Inc will post 2.18 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th will be issued a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Wednesday, April 29th. Conagra Brands’s payout ratio is currently 42.29%.
About Conagra Brands
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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