Auxier Asset Management lowered its holdings in Conagra Brands Inc (NYSE:CAG) by 16.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,175 shares of the company’s stock after selling 6,775 shares during the period. Auxier Asset Management’s holdings in Conagra Brands were worth $1,221,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Fort L.P. acquired a new stake in shares of Conagra Brands in the second quarter worth $117,000. Fortis Advisors LLC acquired a new stake in shares of Conagra Brands in the first quarter worth $148,000. Lucia Wealth Services LLC acquired a new stake in shares of Conagra Brands in the second quarter worth $184,000. Lincoln National Corp acquired a new stake in shares of Conagra Brands in the second quarter worth $200,000. Finally, Zacks Investment Management acquired a new stake in shares of Conagra Brands in the second quarter worth $203,000. 81.42% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on CAG shares. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, August 29th. Citigroup lowered their price target on shares of Conagra Brands from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, June 28th. ValuEngine lowered shares of Conagra Brands from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Stephens assumed coverage on shares of Conagra Brands in a report on Monday, August 20th. They set an “overweight” rating and a $45.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Conagra Brands from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $42.40.
In other news, EVP Colleen Batcheler sold 22,750 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The shares were sold at an average price of $36.00, for a total value of $819,000.00. Following the transaction, the executive vice president now directly owns 163,145 shares in the company, valued at approximately $5,873,220. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven F. Goldstone sold 72,678 shares of the firm’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $35.59, for a total transaction of $2,586,610.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 134,791 shares of company stock worth $4,823,771. Insiders own 0.92% of the company’s stock.
CAG opened at $37.98 on Friday. Conagra Brands Inc has a twelve month low of $32.90 and a twelve month high of $39.43. The company has a quick ratio of 0.40, a current ratio of 0.83 and a debt-to-equity ratio of 0.86. The firm has a market cap of $14.47 billion, a P/E ratio of 18.00, a PEG ratio of 2.06 and a beta of 0.25.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, June 27th. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.07. Conagra Brands had a net margin of 10.18% and a return on equity of 22.54%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. equities analysts forecast that Conagra Brands Inc will post 2.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 30th. Stockholders of record on Tuesday, July 31st were given a $0.2125 dividend. The ex-dividend date was Monday, July 30th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.24%. Conagra Brands’s payout ratio is currently 40.28%.
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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