State of Wisconsin Investment Board increased its position in shares of Conagra Brands (NYSE:CAG) by 117.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 370,663 shares of the company’s stock after purchasing an additional 199,920 shares during the period. State of Wisconsin Investment Board owned approximately 0.09% of Conagra Brands worth $13,670,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in CAG. National Pension Service lifted its holdings in Conagra Brands by 14.6% during the 4th quarter. National Pension Service now owns 455,487 shares of the company’s stock valued at $17,158,000 after buying an additional 57,980 shares in the last quarter. Creative Planning lifted its holdings in Conagra Brands by 2.9% during the 4th quarter. Creative Planning now owns 78,670 shares of the company’s stock valued at $2,963,000 after buying an additional 2,202 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Conagra Brands by 6.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,473,300 shares of the company’s stock valued at $55,500,000 after buying an additional 83,721 shares in the last quarter. Howard Capital Management bought a new stake in Conagra Brands during the 4th quarter valued at about $8,708,000. Finally, Beech Hill Advisors Inc. bought a new stake in Conagra Brands during the 4th quarter valued at about $283,000. Institutional investors own 80.41% of the company’s stock.
Several equities research analysts have recently commented on the stock. UBS boosted their price target on shares of Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, March 23rd. Zacks Investment Research lowered shares of Conagra Brands from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. JPMorgan Chase reduced their price target on shares of Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, March 23rd. Jefferies Group restated a “buy” rating and issued a $44.00 price target on shares of Conagra Brands in a report on Thursday, March 22nd. Finally, Royal Bank of Canada restated a “buy” rating and issued a $46.00 price target on shares of Conagra Brands in a report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $41.67.
In other Conagra Brands news, Director Ruth Ann Marshall sold 6,046 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $35.86, for a total transaction of $216,809.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Stephen G. Butler sold 12,092 shares of the business’s stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $37.18, for a total transaction of $449,580.56. Following the sale, the director now directly owns 127,755 shares in the company, valued at approximately $4,749,930.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,046 shares of company stock worth $885,695. Insiders own 0.79% of the company’s stock.
Shares of Conagra Brands stock opened at $37.42 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. Conagra Brands has a 52-week low of $32.16 and a 52-week high of $40.24. The company has a market capitalization of $14.99 billion, a PE ratio of 18.80, a PEG ratio of 2.28 and a beta of 0.28.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, March 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. equities research analysts expect that Conagra Brands will post 2.05 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Monday, April 30th will be given a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, April 27th. Conagra Brands’s payout ratio is currently 48.85%.
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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