Corient Private Wealth LLC lessened its position in shares of Conagra Brands (NYSE:CAG – Free Report) by 20.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 176,015 shares of the company’s stock after selling 46,053 shares during the quarter. Corient Private Wealth LLC’s holdings in Conagra Brands were worth $3,051,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CAG. NewEdge Advisors LLC boosted its position in shares of Conagra Brands by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after purchasing an additional 954 shares in the last quarter. United Services Automobile Association purchased a new stake in Conagra Brands in the first quarter valued at about $225,000. Empowered Funds LLC raised its stake in Conagra Brands by 5.9% in the first quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after buying an additional 2,038 shares during the last quarter. Woodline Partners LP boosted its holdings in Conagra Brands by 40.7% in the first quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after acquiring an additional 11,664 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Conagra Brands by 3.9% in the second quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock worth $1,033,000 after acquiring an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on CAG. Weiss Ratings lowered Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Conagra Brands from $17.00 to $14.00 and set a “neutral” rating for the company in a research note on Friday, June 5th. UBS Group dropped their target price on shares of Conagra Brands from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Royal Bank Of Canada dropped their target price on shares of Conagra Brands from $17.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, BTIG Research began coverage on shares of Conagra Brands in a research note on Monday, April 13th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $14.13.
Insiders Place Their Bets
In other Conagra Brands news, Director John J. Mulligan bought 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was bought at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the transaction, the director directly owned 20,728 shares of the company’s stock, valued at approximately $296,617.68. This trade represents a 542.13% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard H. Lenny purchased 25,000 shares of the stock in a transaction on Tuesday, April 14th. The stock was acquired at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the acquisition, the director owned 229,340 shares of the company’s stock, valued at $3,288,735.60. The trade was a 12.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.57% of the stock is owned by corporate insiders.
Conagra Brands Trading Up 2.0%
Shares of NYSE:CAG opened at $14.06 on Friday. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $21.37. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of -140.59, a PEG ratio of -0.87 and a beta of -0.02. The business has a 50-day moving average price of $13.71 and a 200-day moving average price of $16.06.
Conagra Brands (NYSE:CAG – Get Free Report) last issued its earnings results on Wednesday, April 1st. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.01). Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the company earned $0.51 EPS. Conagra Brands’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts predict that Conagra Brands will post 1.7 EPS for the current year.
Conagra Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 10.0%. The ex-dividend date of this dividend was Thursday, April 30th. Conagra Brands’s dividend payout ratio is -1,400.00%.
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.
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