Conagra Brands $CAG Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in Conagra Brands (NYSE:CAG) by 59.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,955 shares of the company’s stock after purchasing an additional 39,658 shares during the quarter. CIBC Asset Management Inc’s holdings in Conagra Brands were worth $1,834,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CAG. CYBER HORNET ETFs LLC acquired a new position in Conagra Brands in the second quarter valued at $26,000. Harbour Investments Inc. boosted its stake in shares of Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after buying an additional 701 shares during the period. MUFG Securities EMEA plc purchased a new position in shares of Conagra Brands during the second quarter worth about $29,000. Caitong International Asset Management Co. Ltd acquired a new position in Conagra Brands in the 3rd quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Conagra Brands by 100.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

CAG has been the subject of several analyst reports. Zacks Research downgraded Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Weiss Ratings lowered Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, May 20th. UBS Group cut their price target on Conagra Brands from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Jefferies Financial Group decreased their price target on Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, May 27th. Finally, Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, Conagra Brands currently has an average rating of “Reduce” and an average target price of $14.67.

Insiders Place Their Bets

In other Conagra Brands news, Director Richard H. Lenny acquired 25,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was purchased at an average price of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the transaction, the director owned 229,340 shares of the company’s stock, valued at $3,288,735.60. The trade was a 12.23% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John J. Mulligan bought 17,500 shares of Conagra Brands stock in a transaction on Tuesday, April 14th. The stock was acquired at an average cost of $14.31 per share, with a total value of $250,425.00. Following the acquisition, the director owned 20,728 shares of the company’s stock, valued at $296,617.68. This trade represents a 542.13% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $13.15 on Tuesday. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. The company has a market cap of $6.29 billion, a P/E ratio of -131.44 and a beta of -0.02. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $22.58. The company has a 50-day moving average price of $14.23 and a 200 day moving average price of $16.45.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The business’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS. Research analysts predict that Conagra Brands will post 1.7 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date of this dividend was Thursday, April 30th. Conagra Brands’s dividend payout ratio is currently -1,400.00%.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.