Arden Trust Co reduced its position in Conagra Brands Inc (NYSE:CAG) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,708 shares of the company’s stock after selling 2,256 shares during the period. Arden Trust Co’s holdings in Conagra Brands were worth $490,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Obermeyer Wood Investment Counsel Lllp bought a new position in shares of Conagra Brands in the second quarter valued at $223,000. Squarepoint Ops LLC boosted its stake in Conagra Brands by 15.4% during the 1st quarter. Squarepoint Ops LLC now owns 113,880 shares of the company’s stock valued at $3,341,000 after purchasing an additional 15,230 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in Conagra Brands by 12.7% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 101,352 shares of the company’s stock worth $2,974,000 after purchasing an additional 11,433 shares in the last quarter. Engineers Gate Manager LP increased its holdings in Conagra Brands by 16.2% during the 1st quarter. Engineers Gate Manager LP now owns 34,557 shares of the company’s stock worth $1,014,000 after purchasing an additional 4,818 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Conagra Brands in the second quarter valued at approximately $2,406,000. 81.14% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on CAG. Deutsche Bank Aktiengesellschaft upped their price target on Conagra Brands from $32.00 to $36.00 and gave the stock a “hold” rating in a report on Wednesday, July 1st. Stifel Nicolaus upped their target price on shares of Conagra Brands from $36.00 to $39.00 in a research note on Wednesday, July 1st. Morgan Stanley increased their target price on shares of Conagra Brands from $35.00 to $36.00 and gave the company an “equal weight” rating in a report on Friday, October 2nd. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday, September 1st. Finally, Credit Suisse Group increased their price objective on shares of Conagra Brands from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $36.07.
In other news, EVP Colleen Batcheler sold 6,629 shares of the business’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $36.29, for a total value of $240,566.41. Following the sale, the executive vice president now owns 169,873 shares of the company’s stock, valued at $6,164,691.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP David Biegger sold 33,634 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $37.66, for a total transaction of $1,266,656.44. Following the sale, the executive vice president now owns 66,697 shares in the company, valued at $2,511,809.02. The disclosure for this sale can be found here. In the last three months, insiders sold 81,428 shares of company stock valued at $3,051,734. 2.60% of the stock is currently owned by insiders.
Conagra Brands stock opened at $37.91 on Friday. The firm has a 50 day moving average price of $36.29 and a 200-day moving average price of $35.04. The company has a quick ratio of 0.44, a current ratio of 0.95 and a debt-to-equity ratio of 1.09. Conagra Brands Inc has a twelve month low of $22.83 and a twelve month high of $39.34. The company has a market capitalization of $18.52 billion, a P/E ratio of 18.67, a P/E/G ratio of 2.15 and a beta of 0.86.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Tuesday, October 6th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.57 by $0.13. Conagra Brands had a return on equity of 15.77% and a net margin of 8.77%. The business had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the prior year, the business earned $0.43 earnings per share. Conagra Brands’s revenue for the quarter was up 12.1% on a year-over-year basis. Equities analysts expect that Conagra Brands Inc will post 2.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Monday, November 2nd will be paid a dividend of $0.275 per share. This is an increase from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.10 annualized dividend and a dividend yield of 2.90%. Conagra Brands’s dividend payout ratio is presently 37.28%.
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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