Gilman Hill Asset Management LLC lowered its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,375 shares of the company’s stock after selling 750 shares during the period. Gilman Hill Asset Management LLC’s holdings in Conagra Brands were worth $549,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Capital World Investors lifted its position in shares of Conagra Brands by 28.3% in the 1st quarter. Capital World Investors now owns 38,056,615 shares of the company’s stock worth $1,116,581,000 after purchasing an additional 8,401,933 shares during the period. Coho Partners Ltd. lifted its position in shares of Conagra Brands by 1.6% in the 2nd quarter. Coho Partners Ltd. now owns 4,272,244 shares of the company’s stock worth $150,255,000 after purchasing an additional 67,577 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Conagra Brands by 1.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 3,298,579 shares of the company’s stock worth $116,011,000 after purchasing an additional 53,889 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Conagra Brands by 44.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,872,623 shares of the company’s stock worth $101,030,000 after purchasing an additional 886,435 shares during the period. Finally, LSV Asset Management lifted its position in shares of Conagra Brands by 35.9% in the 2nd quarter. LSV Asset Management now owns 2,552,815 shares of the company’s stock worth $89,782,000 after purchasing an additional 674,737 shares during the period. 81.14% of the stock is currently owned by institutional investors.
Shares of CAG stock traded up $0.12 during trading hours on Friday, reaching $37.91. The company had a trading volume of 1,799,788 shares, compared to its average volume of 3,923,771. The business has a fifty day moving average price of $36.29 and a 200-day moving average price of $35.04. Conagra Brands Inc has a one year low of $22.83 and a one year high of $39.34. The firm has a market cap of $18.52 billion, a PE ratio of 18.67, a price-to-earnings-growth ratio of 2.15 and a beta of 0.86. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.44 and a current ratio of 0.95.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Tuesday, October 6th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.13. Conagra Brands had a net margin of 8.77% and a return on equity of 15.77%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the business posted $0.43 earnings per share. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities research analysts forecast that Conagra Brands Inc will post 2.52 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Monday, November 2nd will be paid a $0.275 dividend. The ex-dividend date of this dividend is Friday, October 30th. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.90%. Conagra Brands’s payout ratio is currently 37.28%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, September 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Conagra Brands from $32.00 to $36.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. Morgan Stanley lifted their price target on shares of Conagra Brands from $35.00 to $36.00 and gave the company an “equal weight” rating in a research report on Friday, October 2nd. ValuEngine raised shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $41.00 price target on shares of Conagra Brands in a research report on Thursday, August 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.07.
In related news, EVP Colleen Batcheler sold 41,165 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $37.52, for a total value of $1,544,510.80. Following the transaction, the executive vice president now owns 169,874 shares of the company’s stock, valued at $6,373,672.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Biegger sold 33,634 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $37.66, for a total transaction of $1,266,656.44. Following the completion of the transaction, the executive vice president now directly owns 66,697 shares in the company, valued at approximately $2,511,809.02. The disclosure for this sale can be found here. Insiders sold 81,428 shares of company stock valued at $3,051,734 over the last quarter. Company insiders own 2.60% of the company’s stock.
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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