Coho Partners Ltd. Takes $94.36 Million Position in Conagra Brands (CAG)

Coho Partners Ltd. acquired a new stake in Conagra Brands (NYSE:CAG) in the first quarter, Holdings Channel reports. The fund acquired 2,558,615 shares of the company’s stock, valued at approximately $94,362,000. Conagra Brands accounts for 2.5% of Coho Partners Ltd.’s investment portfolio, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Advisor Partners LLC boosted its holdings in Conagra Brands by 11.7% in the 4th quarter. Advisor Partners LLC now owns 13,388 shares of the company’s stock valued at $506,000 after purchasing an additional 1,399 shares during the period. Hunter Associates Investment Management LLC boosted its holdings in Conagra Brands by 11.3% in the 4th quarter. Hunter Associates Investment Management LLC now owns 13,835 shares of the company’s stock valued at $521,000 after purchasing an additional 1,400 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Conagra Brands by 1.4% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 122,839 shares of the company’s stock valued at $4,530,000 after purchasing an additional 1,660 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Conagra Brands by 13.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 13,865 shares of the company’s stock valued at $511,000 after purchasing an additional 1,671 shares during the period. Finally, Pinnacle Associates Ltd. boosted its holdings in Conagra Brands by 6.7% in the 4th quarter. Pinnacle Associates Ltd. now owns 26,686 shares of the company’s stock valued at $1,005,000 after purchasing an additional 1,676 shares during the period. 80.41% of the stock is owned by hedge funds and other institutional investors.

CAG has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday, February 22nd. Jefferies Group reissued a “buy” rating and issued a $44.00 price objective on shares of Conagra Brands in a report on Thursday, March 22nd. Royal Bank of Canada reissued a “buy” rating and issued a $46.00 price objective on shares of Conagra Brands in a report on Friday, March 23rd. JPMorgan Chase cut their price objective on shares of Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, March 23rd. Finally, UBS boosted their price objective on shares of Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Conagra Brands presently has an average rating of “Hold” and a consensus price target of $41.67.

Shares of Conagra Brands opened at $37.72 on Friday, MarketBeat reports. Conagra Brands has a 1-year low of $37.65 and a 1-year high of $37.83. The company has a quick ratio of 0.52, a current ratio of 1.03 and a debt-to-equity ratio of 0.85. The company has a market cap of $15.14 billion, a PE ratio of 21.68, a PEG ratio of 2.31 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, March 22nd. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.05. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. research analysts forecast that Conagra Brands will post 2.05 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Monday, April 30th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Friday, April 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 48.85%.

In other news, SVP Robert G. Wise sold 5,908 shares of the company’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $37.12, for a total transaction of $219,304.96. Following the completion of the sale, the senior vice president now owns 22,781 shares of the company’s stock, valued at approximately $845,630.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen G. Butler sold 12,092 shares of the company’s stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $37.18, for a total transaction of $449,580.56. Following the sale, the director now directly owns 127,755 shares of the company’s stock, valued at approximately $4,749,930.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,046 shares of company stock valued at $885,695. 0.79% of the stock is currently owned by insiders.

Conagra Brands Profile

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.

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands (NYSE:CAG).

Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply