Schwab Charles Investment Management Inc. boosted its position in shares of Conagra Brands Inc. (NYSE:CAG) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,389,579 shares of the company’s stock after acquiring an additional 28,949 shares during the period. Schwab Charles Investment Management Inc. owned 0.34% of Conagra Brands worth $46,885,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of the stock. IndexIQ Advisors LLC increased its stake in Conagra Brands by 0.4% during the 2nd quarter. IndexIQ Advisors LLC now owns 9,828 shares of the company’s stock valued at $352,000 after purchasing an additional 36 shares in the last quarter. Conning Inc. increased its stake in Conagra Brands by 0.6% during the 2nd quarter. Conning Inc. now owns 11,616 shares of the company’s stock valued at $415,000 after purchasing an additional 70 shares in the last quarter. Synovus Financial Corp increased its stake in Conagra Brands by 1.8% during the 2nd quarter. Synovus Financial Corp now owns 8,884 shares of the company’s stock valued at $318,000 after purchasing an additional 155 shares in the last quarter. MUFG Americas Holdings Corp increased its stake in Conagra Brands by 1.5% during the 2nd quarter. MUFG Americas Holdings Corp now owns 13,810 shares of the company’s stock valued at $494,000 after purchasing an additional 208 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in Conagra Brands by 0.8% during the 2nd quarter. MML Investors Services LLC now owns 27,246 shares of the company’s stock valued at $974,000 after purchasing an additional 222 shares in the last quarter. 79.04% of the stock is owned by institutional investors.
CAG has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Morgan Stanley cut their price target on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, September 25th. Credit Suisse Group cut their price target on shares of Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, September 25th. Jefferies Group restated a “buy” rating and set a $40.00 price target on shares of Conagra Brands in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $40.03.
Shares of Conagra Brands Inc. (NYSE:CAG) opened at $37.08 on Thursday. The firm has a market cap of $15,183.87, a price-to-earnings ratio of 20.65, a PEG ratio of 2.80 and a beta of 0.37. Conagra Brands Inc. has a 52 week low of $32.16 and a 52 week high of $41.68. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 0.71.
Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. research analysts forecast that Conagra Brands Inc. will post 1.89 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Stockholders of record on Friday, October 13th were paid a $0.2125 dividend. The ex-dividend date of this dividend was Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.29%. Conagra Brands’s payout ratio is currently 60.28%.
In related news, EVP Colleen Batcheler sold 120,451 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the sale, the executive vice president now owns 211,514 shares in the company, valued at $7,931,775. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.79% of the stock is currently owned by company insiders.
Conagra Brands Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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