Conagra Brands Inc (NYSE:CAG) insider Sean Connolly purchased 14,184 shares of the firm’s stock in a transaction dated Friday, October 12th. The stock was acquired at an average cost of $35.25 per share, with a total value of $499,986.00. Following the purchase, the insider now owns 217,607 shares of the company’s stock, valued at approximately $7,670,646.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of NYSE:CAG traded up $0.47 on Friday, hitting $35.34. The company’s stock had a trading volume of 5,946,800 shares, 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 cap of $13.30 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 1.92 and a beta of 0.31. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.39 and a current ratio of 0.84.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 the consensus estimate of $1.85 billion. During the same period in the prior year, the business earned $0.46 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that Conagra Brands Inc will post 2.21 EPS 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 paid a dividend of $0.2125 per share. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.85 annualized dividend and a yield of 2.41%. Conagra Brands’s dividend payout ratio is currently 40.28%.
Hedge funds have recently made changes to their positions in the stock. Fort L.P. bought a new position in Conagra Brands during the second quarter valued at about $117,000. LFA Lugano Financial Advisors SA boosted its stake in Conagra Brands by 137.6% during the third quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock valued at $175,000 after buying an additional 2,984 shares in the last quarter. Lucia Wealth Services LLC bought a new position in Conagra Brands during the second quarter valued at about $184,000. Lincoln National Corp bought a new position in Conagra Brands during the second quarter valued at about $200,000. Finally, Zacks Investment Management bought a new position in Conagra Brands during the second quarter valued at about $203,000. 81.48% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on CAG. ValuEngine raised Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday. UBS Group raised Conagra Brands from a “neutral” rating to a “buy” rating and increased their price target for the stock from $38.00 to $40.00 in a research note on Monday. Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating in a research note on Friday, June 29th. Stephens began coverage on Conagra Brands in a research note on Monday, August 20th. They issued an “overweight” rating and a $45.00 price target for the company. Finally, Jefferies Financial Group set a $44.00 price target on Conagra Brands and gave the stock a “buy” rating in a research note on Thursday, September 27th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price 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.
Recommended Story: How a Put Option Works
Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.