Parametric Portfolio Associates LLC lifted its stake in shares of Conagra Brands Inc (NYSE:CAG) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,147,669 shares of the company’s stock after buying an additional 96,669 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.28% of Conagra Brands worth $38,722,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CAG. Sun Life Financial INC boosted its holdings in shares of Conagra Brands by 32,666.7% during the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock valued at $105,000 after acquiring an additional 2,940 shares during the period. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Conagra Brands by 143.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock valued at $112,000 after acquiring an additional 1,851 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Conagra Brands by 57.1% during the second quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $168,000 after acquiring an additional 1,705 shares during the period. Krilogy Financial LLC boosted its holdings in shares of Conagra Brands by 7.7% during the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after acquiring an additional 370 shares during the period. Finally, Evercore Wealth Management LLC boosted its holdings in shares of Conagra Brands by 12.9% during the second quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock valued at $226,000 after acquiring an additional 725 shares during the period. 78.88% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Joie A. Gregor sold 5,250 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Robert G. Wise sold 23,170 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the sale, the senior vice president now owns 51,859 shares of the company’s stock, valued at $1,963,900.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,121 shares of company stock valued at $5,793,780. Corporate insiders own 0.79% of the company’s stock.
CAG has been the topic of a number of recent analyst reports. Credit Suisse Group set a $40.00 price objective on shares of Conagra Brands and gave the company a “hold” rating in a research note on Monday, December 25th. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and lifted their price objective for the company from $36.00 to $38.00 in a research note on Sunday, October 29th. They noted that the move was a valuation call. UBS Group upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, November 22nd. Finally, Sanford C. Bernstein upgraded shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $40.95.
Conagra Brands Inc (CAG) traded down $0.05 during trading hours on Friday, reaching $36.71. The company’s stock had a trading volume of 1,934,894 shares, compared to its average volume of 3,560,000. The company has a current ratio of 1.11, a quick ratio of 0.54 and a debt-to-equity ratio of 0.86. Conagra Brands Inc has a 52 week low of $32.16 and a 52 week high of $41.68. The stock has a market cap of $14,710.00, a PE ratio of 21.85, a PEG ratio of 2.78 and a beta of 0.37.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.49 EPS. sell-side analysts forecast that Conagra Brands Inc will post 1.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be issued a $0.213 dividend. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s payout ratio is 50.60%.
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Conagra Brands Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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