Seeyond reduced its position in Conagra Brands Inc (NYSE:CAG) by 59.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,024 shares of the company’s stock after selling 37,956 shares during the quarter. Seeyond’s holdings in Conagra Brands were worth $690,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Conagra Brands by 36.8% during the 4th quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock worth $146,052,000 after purchasing an additional 1,840,875 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Conagra Brands by 84.2% in the 1st quarter. Victory Capital Management Inc. now owns 503,183 shares of the company’s stock worth $13,958,000 after acquiring an additional 230,048 shares during the period. Stephens Inc. AR lifted its stake in shares of Conagra Brands by 71.5% in the 1st quarter. Stephens Inc. AR now owns 28,755 shares of the company’s stock worth $798,000 after acquiring an additional 11,993 shares during the period. First Allied Advisory Services Inc. lifted its stake in shares of Conagra Brands by 2.7% in the 1st quarter. First Allied Advisory Services Inc. now owns 14,258 shares of the company’s stock worth $397,000 after acquiring an additional 371 shares during the period. Finally, State Treasurer State of Michigan lifted its stake in shares of Conagra Brands by 0.6% in the 1st quarter. State Treasurer State of Michigan now owns 139,971 shares of the company’s stock worth $3,883,000 after acquiring an additional 900 shares during the period. 87.22% of the stock is currently owned by institutional investors.
Several research firms have recently commented on CAG. Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $33.00 to $31.00 in a research note on Friday, September 6th. Morgan Stanley began coverage on shares of Conagra Brands in a research note on Monday, May 20th. They issued an “equal weight” rating and a $31.00 target price for the company. Evercore ISI began coverage on shares of Conagra Brands in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $36.00 target price for the company. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a report on Monday, July 8th. Finally, UBS Group set a $32.00 price target on shares of Conagra Brands and gave the company a “buy” rating in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.36.
In other news, Director Richard H. Lenny sold 20,153 shares of Conagra Brands stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $27.27, for a total transaction of $549,572.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig P. Omtvedt purchased 25,000 shares of the stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $26.73 per share, with a total value of $668,250.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 33,589 shares of company stock valued at $929,334. Insiders own 0.84% of the company’s stock.
Shares of CAG traded up $0.10 during trading hours on Friday, reaching $29.86. The company had a trading volume of 105,972 shares, compared to its average volume of 3,745,931. The company has a current ratio of 1.28, a quick ratio of 0.54 and a debt-to-equity ratio of 1.43. The firm has a 50 day simple moving average of $28.65 and a 200-day simple moving average of $27.96. Conagra Brands Inc has a 12-month low of $20.22 and a 12-month high of $38.43. The company has a market capitalization of $14.32 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.99 and a beta of 0.85.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, June 27th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.06). Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business posted $0.50 earnings per share. The business’s revenue was up 32.9% compared to the same quarter last year. Sell-side analysts forecast that Conagra Brands Inc will post 2.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, July 30th were issued a dividend of $0.2125 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.85%. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.
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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