Conagra Brands (NYSE:CAG) Director John Mulligan Acquires 17,500 Shares

Conagra Brands (NYSE:CAG) Director John Mulligan acquired 17,500 shares of the stock in a transaction on Tuesday, April 14th. The shares were acquired at an average price of $14.31 per share, with a total value of $250,425.00. Following the purchase, the director owned 20,728 shares in the company, valued at $296,617.68. This represents a 542.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $14.09 on Thursday. Conagra Brands has a fifty-two week low of $14.04 and a fifty-two week high of $25.77. The business has a 50 day moving average price of $17.23 and a two-hundred day moving average price of $17.52. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The firm 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 issued its quarterly earnings data on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. Conagra Brands’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.51 EPS. Sell-side analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th will be given a $0.35 dividend. The ex-dividend date is Thursday, April 30th. This represents a $1.40 annualized dividend and a dividend yield of 9.9%. Conagra Brands’s dividend payout ratio (DPR) is presently -1,400.00%.

Hedge Funds Weigh In On Conagra Brands

Hedge funds and other institutional investors have recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in shares of Conagra Brands during the second quarter valued at $26,000. MUFG Securities EMEA plc acquired a new position in shares of Conagra Brands during the second quarter valued at $29,000. Harbour Investments Inc. boosted its holdings in shares of Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after acquiring an additional 701 shares during the period. True Wealth Design LLC boosted its holdings in shares of Conagra Brands by 844.4% during the third quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock valued at $29,000 after acquiring an additional 1,427 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Conagra Brands by 249.0% during the third quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock valued at $32,000 after acquiring an additional 1,230 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CAG. Stifel Nicolaus decreased their target price on Conagra Brands from $19.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday, April 2nd. Bank of America decreased their target price on Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a research report on Monday, December 22nd. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. Jefferies Financial Group decreased their target price on Conagra Brands from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Finally, Wall Street Zen upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Conagra Brands presently has a consensus rating of “Reduce” and an average price target of $16.07.

Conagra Brands Company Profile

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.