Itau Unibanco Holding S.A. lifted its position in shares of Conagra Brands Inc (NYSE:CAG) by 35.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,185 shares of the company’s stock after acquiring an additional 3,215 shares during the period. Itau Unibanco Holding S.A.’s holdings in Conagra Brands were worth $459,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vantage Investment Advisors LLC grew its stake in Conagra Brands by 625.7% during the 4th quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock worth $113,000 after buying an additional 2,578 shares during the last quarter. NuWave Investment Management LLC bought a new position in Conagra Brands during the 4th quarter worth $114,000. Meeder Asset Management Inc. bought a new position in Conagra Brands during the 4th quarter worth $161,000. Strategic Financial Services Inc bought a new position in Conagra Brands during the 4th quarter worth $203,000. Finally, Iberiabank Corp bought a new position in Conagra Brands during the 4th quarter worth $207,000. Hedge funds and other institutional investors own 81.33% of the company’s stock.
In other news, EVP Colleen Batcheler sold 120,451 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $37.50, for a total value of $4,516,912.50. Following the completion of the transaction, the executive vice president now owns 211,514 shares of the company’s stock, valued at $7,931,775. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Robert G. Wise sold 23,170 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the transaction, the senior vice president now directly owns 51,859 shares of the company’s stock, valued at approximately $1,963,900.33. The disclosure for this sale can be found here. In the last three months, insiders sold 154,121 shares of company stock valued at $5,793,780. Company insiders own 0.79% of the company’s stock.
CAG has been the subject of a number of recent research reports. Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Stifel Nicolaus upped their price objective on Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Credit Suisse Group set a $40.00 price objective on Conagra Brands and gave the stock a “hold” rating in a research note on Monday, December 25th. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, November 22nd. Finally, UBS Group upgraded Conagra Brands from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $33.00 to $37.00 in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $40.50.
Conagra Brands Inc (NYSE CAG) opened at $36.08 on Wednesday. Conagra Brands Inc has a 52 week low of $32.16 and a 52 week high of $41.68. The stock has a market capitalization of $14,523.96, a price-to-earnings ratio of 19.49, a PEG ratio of 2.35 and a beta of 0.27. The company has a quick ratio of 0.54, a current ratio of 1.11 and a debt-to-equity ratio of 0.86.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, December 21st. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. research analysts expect that Conagra Brands Inc will post 1.93 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be paid a $0.213 dividend. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. This represents a $0.85 annualized dividend and a dividend yield of 2.36%. Conagra Brands’s dividend payout ratio is presently 50.90%.
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Conagra Brands Company 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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