Richard Lenny Buys 25,000 Shares of Conagra Brands (NYSE:CAG) Stock

Conagra Brands (NYSE:CAG) Director Richard Lenny bought 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The shares were bought at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the purchase, the director owned 229,340 shares of the company’s stock, valued at $3,288,735.60. This represents a 12.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Conagra Brands Stock Down 1.4%

NYSE CAG traded down $0.20 on Wednesday, hitting $14.09. 19,139,057 shares of the company were exchanged, compared to its average volume of 14,635,364. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. The stock has a fifty day moving average of $17.35 and a 200-day moving average of $17.55. Conagra Brands has a 12 month low of $14.04 and a 12 month high of $25.77. The company has a market cap of $6.74 billion, a PE ratio of -140.84 and a beta of 0.04.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the previous year, the company posted $0.51 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis. As a group, analysts forecast that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.40 annualized dividend and a yield of 9.9%. Conagra Brands’s dividend payout ratio is presently -1,400.00%.

Institutional Trading of Conagra Brands

Several institutional investors have recently made changes to their positions in CAG. CYBER HORNET ETFs LLC bought a new stake in shares of Conagra Brands in the 2nd quarter worth $26,000. Harbour Investments Inc. grew its stake in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after acquiring an additional 701 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Conagra Brands by 844.4% in the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after acquiring an additional 1,427 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands in the 2nd quarter worth $29,000. Finally, Spire Wealth Management grew its stake in shares of Conagra Brands by 249.0% in the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock worth $32,000 after acquiring an additional 1,230 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Conagra Brands from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, April 2nd. TD Cowen lowered their price objective on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a report on Wednesday, March 25th. Jefferies Financial Group lowered their price objective on shares of Conagra Brands from $16.00 to $15.00 and set a “hold” rating on the stock in a report on Monday, March 30th. UBS Group lowered their price objective on shares of Conagra Brands from $20.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating on the stock in a report on Monday, March 30th. One equities research analyst has rated the stock with a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Reduce” and a consensus price target of $16.07.

About Conagra Brands

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.