Conagra Brands Inc (NYSE:CAG) CFO David S. Marberger purchased 2,836 shares of the stock in a transaction dated Friday, October 12th. The shares were acquired at an average price of $35.25 per share, with a total value of $99,969.00. Following the completion of the acquisition, the chief financial officer now owns 12,721 shares in the company, valued at approximately $448,415.25. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Conagra Brands stock traded up $0.47 during midday trading on Friday, reaching $35.34. 5,946,800 shares of the stock traded hands, compared to its average volume of 4,188,130. Conagra Brands Inc has a 12-month low of $32.81 and a 12-month high of $39.43. The stock has a market capitalization of $13.30 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.92 and a beta of 0.31. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.39.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, September 27th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Conagra Brands had a net margin of 10.47% and a return on equity of 22.50%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business earned $0.46 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts anticipate that Conagra Brands Inc will post 2.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 17th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Tuesday, October 16th. Conagra Brands’s dividend payout ratio (DPR) is 40.28%.
Institutional investors have recently made changes to their positions in the stock. Fort L.P. purchased a new position in Conagra Brands during the 2nd quarter valued at about $117,000. LFA Lugano Financial Advisors SA boosted its holdings in Conagra Brands by 137.6% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock valued at $175,000 after acquiring an additional 2,984 shares during the period. Lucia Wealth Services LLC purchased a new position in Conagra Brands during the 2nd quarter valued at about $184,000. Lincoln National Corp purchased a new position in Conagra Brands during the 2nd quarter valued at about $200,000. Finally, Zacks Investment Management purchased a new position in Conagra Brands during the 2nd quarter valued at about $203,000. Institutional investors own 81.48% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Stephens assumed coverage on Conagra Brands in a report on Monday, August 20th. They set an “overweight” rating and a $45.00 price target for the company. JPMorgan Chase & Co. increased their price target on Conagra Brands from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a report on Wednesday, October 3rd. ValuEngine cut Conagra Brands from a “hold” rating to a “sell” rating in a report on Wednesday, July 4th. Finally, Citigroup lowered their price target on Conagra Brands from $43.00 to $42.00 and set a “buy” rating for the company in a report on Thursday, June 28th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Conagra Brands has an average rating of “Buy” and a consensus price target of $42.78.
Conagra Brands Company 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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