Manning & Napier Group LLC decreased its holdings in Conagra Brands Inc (NYSE:CAG) by 1.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,220 shares of the company’s stock after selling 2,473 shares during the quarter. Manning & Napier Group LLC’s holdings in Conagra Brands were worth $4,178,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Berman Capital Advisors LLC grew its stake in shares of Conagra Brands by 86.2% in the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock worth $25,000 after purchasing an additional 444 shares during the last quarter. Doyle Wealth Management bought a new stake in shares of Conagra Brands in the second quarter worth $26,000. Kavar Capital Partners LLC bought a new stake in shares of Conagra Brands in the second quarter worth $34,000. Coastal Investment Advisors Inc. grew its stake in shares of Conagra Brands by 4,160.0% in 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 during the last quarter. Finally, First Bank & Trust grew its stake in shares of Conagra Brands by 49.8% in the second quarter. First Bank & Trust now owns 1,925 shares of the company’s stock worth $51,000 after purchasing an additional 640 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.
CAG has been the topic of several analyst reports. Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $33.00 to $31.00 in a research note on Friday, September 6th. ValuEngine raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays set a $33.00 price target on shares of Conagra Brands and gave the company a “buy” rating in a research report on Friday, September 27th. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price target on the stock in a research report on Monday, July 8th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $33.64.
Shares of CAG opened at $28.41 on Friday. The company has a current ratio of 1.11, a quick ratio of 0.40 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $13.67 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87. The firm’s fifty day simple moving average is $29.08 and its two-hundred day simple moving average is $28.84. Conagra Brands Inc has a 12 month low of $20.22 and a 12 month high of $37.60.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, September 26th. The company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.04. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, research analysts predict that Conagra Brands Inc will post 2.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 1st will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.85 dividend on an annualized basis and a yield of 2.99%. Conagra Brands’s dividend payout ratio (DPR) is currently 42.29%.
In other news, COO Thomas M. Mcgough sold 26,099 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.00, for a total transaction of $809,069.00. Following the transaction, the chief operating officer now owns 145,869 shares of the company’s stock, valued at approximately $4,521,939. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Colleen Batcheler sold 25,458 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.00, for a total transaction of $763,740.00. Following the transaction, the executive vice president now directly owns 169,873 shares in the company, valued at approximately $5,096,190. The disclosure for this sale can be found here. Insiders have sold 79,146 shares of company stock worth $2,335,793 in the last ninety days. Insiders own 0.84% of the company’s stock.
Conagra Brands 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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