CX Institutional lifted its holdings in Conagra Brands, Inc. (NYSE:CAG) by 8,274.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 52,758 shares of the company’s stock after buying an additional 52,128 shares during the period. CX Institutional’s holdings in Conagra Brands were worth $1,983,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. HM Payson & Co. boosted its position in shares of Conagra Brands by 32.1% in the third quarter. HM Payson & Co. now owns 2,675 shares of the company’s stock worth $96,000 after buying an additional 650 shares during the period. TCW Group Inc. boosted its position in Conagra Brands by 0.3% during the fourth quarter. TCW Group Inc. now owns 1,253,388 shares of the company’s stock valued at $45,447,000 after purchasing an additional 4,205 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Conagra Brands by 0.7% during the third quarter. Mercer Global Advisors Inc. ADV now owns 59,748 shares of the company’s stock valued at $2,134,000 after purchasing an additional 409 shares during the last quarter. Eqis Capital Management Inc. acquired a new stake in Conagra Brands during the fourth quarter valued at $593,000. Finally, Toronto Dominion Bank boosted its position in Conagra Brands by 3.8% during the fourth quarter. Toronto Dominion Bank now owns 502,021 shares of the company’s stock valued at $18,203,000 after purchasing an additional 18,383 shares during the last quarter. 82.11% of the stock is owned by institutional investors and hedge funds.
In other news, COO Thomas M. Mcgough sold 45,660 shares of the business’s stock in a transaction on Friday, March 19th. The shares were sold at an average price of $37.55, for a total transaction of $1,714,533.00. Following the completion of the sale, the chief operating officer now directly owns 102,001 shares of the company’s stock, valued at $3,830,137.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas M. Mcgough sold 24,340 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $37.50, for a total transaction of $912,750.00. Following the sale, the chief operating officer now directly owns 80,681 shares of the company’s stock, valued at $3,025,537.50. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
A number of research firms recently issued reports on CAG. Jefferies Financial Group began coverage on Conagra Brands in a research report on Friday, January 8th. They set a “buy” rating and a $41.00 price objective for the company. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a report on Monday, January 11th. Royal Bank of Canada raised their target price on Conagra Brands from $37.00 to $38.00 in a report on Friday, April 9th. Finally, Credit Suisse Group raised their target price on Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a report on Monday, March 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.88.
Shares of CAG stock opened at $37.55 on Monday. Conagra Brands, Inc. has a 52-week low of $31.66 and a 52-week high of $39.34. The firm’s 50-day moving average is $36.77 and its 200-day moving average is $35.90. The stock has a market cap of $18.02 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.35 and a current ratio of 0.83.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, April 7th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. Conagra Brands had a net margin of 9.67% and a return on equity of 16.50%. The firm had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Conagra Brands, Inc. will post 2.6 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 2nd. Shareholders of record on Friday, April 30th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.93%. Conagra Brands’s payout ratio is 48.25%.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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