Pflug Koory LLC reduced its stake in shares of Conagra Brands Inc (NYSE:CAG) by 10.1% in the 2nd quarter, Holdings Channel reports. The fund owned 8,927 shares of the company’s stock after selling 1,000 shares during the period. Pflug Koory LLC’s holdings in Conagra Brands were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Kavar Capital Partners LLC purchased a new stake in shares of Conagra Brands in the second quarter valued at approximately $34,000. Amica Retiree Medical Trust purchased a new stake in shares of Conagra Brands during the second quarter worth approximately $59,000. Advisory Services Network LLC increased its position in shares of Conagra Brands by 11.6% during the second quarter. Advisory Services Network LLC now owns 7,567 shares of the company’s stock worth $201,000 after purchasing an additional 788 shares in the last quarter. Coastal Investment Advisors Inc. increased its position in shares of Conagra Brands by 4,160.0% during the second quarter. Coastal Investment Advisors Inc. now owns 1,704 shares of the company’s stock worth $46,000 after purchasing an additional 1,664 shares in the last quarter. Finally, Amica Mutual Insurance Co. purchased a new stake in shares of Conagra Brands during the second quarter worth approximately $372,000. Institutional investors own 88.13% of the company’s stock.
Several analysts recently commented on CAG shares. Evercore ISI started coverage on Conagra Brands in a research report on Tuesday, June 11th. They set an “outperform” rating and a $36.00 price target for the company. Citigroup dropped their price target on Conagra Brands from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Bank of America set a $35.00 price target on Conagra Brands and gave the stock a “buy” rating in a research report on Friday, June 28th. UBS Group set a $32.00 price target on Conagra Brands and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $34.42.
NYSE CAG traded up $0.65 on Friday, reaching $29.50. 1,181,262 shares of the company were exchanged, compared to its average volume of 4,304,064. The business’s fifty day moving average price is $28.19 and its 200 day moving average price is $27.26. The stock has a market capitalization of $14.05 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. The company has a current ratio of 1.28, a quick ratio of 0.54 and a debt-to-equity ratio of 1.43. Conagra Brands Inc has a fifty-two week low of $20.22 and a fifty-two week high of $38.43.
Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.66 billion. Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The business’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm posted $0.50 EPS. Equities research analysts forecast that Conagra Brands Inc will post 2.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Tuesday, July 30th will be paid a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Monday, July 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 42.29%.
In other Conagra Brands news, Director Richard H. Lenny sold 20,153 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $27.27, for a total transaction of $549,572.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ruth Ann Marshall sold 3,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $27.00, for a total value of $81,000.00. Following the transaction, the director now directly owns 102,387 shares in the company, valued at approximately $2,764,449. The disclosure for this sale can be found here. Insiders have sold 33,589 shares of company stock worth $929,334 in the last three months. 0.92% of the stock is currently owned by corporate insiders.
Conagra Brands Company 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.
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