SG Americas Securities LLC increased its stake in Conagra Brands Inc (NYSE:CAG) by 84.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 204,662 shares of the company’s stock after buying an additional 93,736 shares during the period. SG Americas Securities LLC’s holdings in Conagra Brands were worth $6,279,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. First Trust Advisors LP increased its stake in Conagra Brands by 27.2% in the 3rd quarter. First Trust Advisors LP now owns 2,437,567 shares of the company’s stock worth $74,785,000 after buying an additional 521,020 shares during the period. Daiwa Securities Group Inc. increased its stake in Conagra Brands by 3.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,770 shares of the company’s stock worth $637,000 after buying an additional 620 shares during the period. First National Bank of Omaha purchased a new position in Conagra Brands in the 3rd quarter worth about $1,196,000. Keybank National Association OH increased its stake in Conagra Brands by 14.8% in the 3rd quarter. Keybank National Association OH now owns 104,528 shares of the company’s stock worth $3,206,000 after buying an additional 13,509 shares during the period. Finally, Kornitzer Capital Management Inc. KS increased its stake in Conagra Brands by 1.9% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 169,520 shares of the company’s stock worth $5,201,000 after buying an additional 3,235 shares during the period. 86.26% of the stock is currently owned by institutional investors.
NYSE CAG traded down $0.36 during trading on Friday, reaching $27.44. 2,586,227 shares of the company’s stock traded hands, compared to its average volume of 5,833,551. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.11 and a quick ratio of 0.40. The firm has a market cap of $13.44 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The company’s 50 day simple moving average is $28.29 and its two-hundred day simple moving average is $28.69. Conagra Brands Inc has a 12-month low of $20.22 and a 12-month high of $35.72.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, September 26th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. Research analysts expect that Conagra Brands Inc will post 2.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be given a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is currently 42.29%.
In other news, COO Thomas M. Mcgough sold 26,099 shares of Conagra Brands stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Colleen Batcheler sold 25,458 shares of Conagra Brands stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.00, for a total transaction of $763,740.00. Following the completion of 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. 0.84% of the stock is owned by insiders.
A number of research analysts have commented on CAG shares. Barclays set a $33.00 target price on shares of Conagra Brands and gave the company a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada started coverage on shares of Conagra Brands in a research report on Thursday, October 17th. They set a “sector perform” rating and a $30.00 target price on the stock. Credit Suisse Group reissued a “hold” rating and set a $29.00 target price on shares of Conagra Brands in a research report on Thursday, September 19th. Citigroup raised their target price on shares of Conagra Brands from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their target price for the company from $33.00 to $31.00 in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.33.
About Conagra Brands
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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