Conagra Brands Sees Unusually Large Options Volume (CAG)
Conagra Brands Inc. (NYSE:CAG) was the recipient of some unusual options trading activity on Wednesday. Traders bought 11,297 call options on the company. This represents an increase of 3,262% compared to the typical daily volume of 336 call options.
Conagra Brands (NYSE:CAG) opened at $37.47 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.03 and a quick ratio of 0.51. Conagra Brands has a 52-week low of $32.16 and a 52-week high of $41.68. The stock has a market cap of $15,249.24, a PE ratio of 20.74, a PEG ratio of 2.82 and a beta of 0.36.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period last year, the firm posted $0.37 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. research analysts anticipate that Conagra Brands will post 1.89 earnings per share for the current year.
A number of research firms have commented on CAG. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, November 22nd. BidaskClub upgraded shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Credit Suisse Group reiterated a “hold” rating and set a $39.00 price objective on shares of Conagra Brands in a research note on Friday, August 11th. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price objective on shares of Conagra Brands in a research note on Friday, September 29th. Finally, Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and increased 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. Three analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $40.03.
In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the transaction, the executive vice president now directly owns 211,514 shares in the company, valued at approximately $7,931,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.
Several institutional investors have recently bought and sold shares of CAG. Janus Henderson Group PLC lifted its position in shares of Conagra Brands by 10,072.6% in the 2nd quarter. Janus Henderson Group PLC now owns 6,144,061 shares of the company’s stock worth $219,711,000 after buying an additional 6,083,663 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Conagra Brands by 64.0% in the 3rd quarter. American Century Companies Inc. now owns 11,938,659 shares of the company’s stock worth $402,810,000 after buying an additional 4,660,867 shares during the last quarter. AJO LP lifted its position in shares of Conagra Brands by 757.3% in the 2nd quarter. AJO LP now owns 3,118,724 shares of the company’s stock worth $111,526,000 after buying an additional 2,754,930 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Conagra Brands by 49.8% in the 2nd quarter. Alliancebernstein L.P. now owns 5,674,123 shares of the company’s stock worth $202,907,000 after buying an additional 1,886,614 shares during the last quarter. Finally, Numeric Investors LLC lifted its position in shares of Conagra Brands by 75.2% in the 2nd quarter. Numeric Investors LLC now owns 3,077,000 shares of the company’s stock worth $110,034,000 after buying an additional 1,321,100 shares during the last quarter. Institutional investors own 79.05% of the company’s stock.
Conagra Brands Company 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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