Conagra Brands Inc (CAG) Stake Increased by Blair William & Co. IL

Blair William & Co. IL lifted its position in shares of Conagra Brands Inc (NYSE:CAG) by 26.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,495 shares of the company’s stock after buying an additional 32,918 shares during the period. Blair William & Co. IL’s holdings in Conagra Brands were worth $5,282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its holdings in Conagra Brands by 59.3% in the 3rd quarter. FMR LLC now owns 6,684,731 shares of the company’s stock valued at $227,081,000 after purchasing an additional 2,487,451 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Conagra Brands by 57,565.2% in the 2nd quarter. Macquarie Group Ltd. now owns 4,555,550 shares of the company’s stock valued at $162,770,000 after purchasing an additional 4,547,650 shares during the last quarter. Coho Partners Ltd. increased its holdings in Conagra Brands by 57.2% in the 3rd quarter. Coho Partners Ltd. now owns 4,138,901 shares of the company’s stock valued at $140,598,000 after purchasing an additional 1,506,353 shares during the last quarter. Jennison Associates LLC increased its holdings in Conagra Brands by 2.7% in the 2nd quarter. Jennison Associates LLC now owns 3,459,244 shares of the company’s stock valued at $123,599,000 after purchasing an additional 91,196 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in Conagra Brands by 12.6% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,997,220 shares of the company’s stock valued at $101,478,000 after purchasing an additional 335,637 shares during the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.

Several analysts recently weighed in on CAG shares. Goldman Sachs Group reiterated a “buy” rating and issued a $42.00 target price on shares of Conagra Brands in a report on Wednesday, October 24th. Jefferies Financial Group set a $44.00 target price on shares of Conagra Brands and gave the company a “buy” rating in a report on Thursday, September 27th. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Wednesday, August 29th. UBS Group upgraded shares of Conagra Brands from a “neutral” rating to a “buy” rating and lifted their target price for the company from $38.00 to $40.00 in a report on Monday, October 8th. Finally, ValuEngine upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Monday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $42.20.

In other news, CFO David S. Marberger acquired 2,836 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 $99,969.00. Following the transaction, the chief financial officer now owns 12,721 shares in the company, valued at $448,415.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sean Connolly acquired 14,184 shares of the firm’s stock in a transaction dated Friday, October 12th. The shares were purchased at an average cost of $35.25 per share, with a total value of $499,986.00. Following the completion of the transaction, the insider now owns 217,607 shares in the company, valued at approximately $7,670,646.75. The disclosure for this purchase can be found here. Insiders acquired a total of 24,112 shares of company stock valued at $849,948 in the last three months. 0.92% of the stock is currently owned by corporate insiders.

Shares of CAG stock opened at $32.34 on Monday. 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 Inc has a 52 week low of $31.86 and a 52 week high of $39.43. The company has a market capitalization of $12.67 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.88 and a beta of 0.17.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, September 27th. The company reported $0.47 EPS 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 business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the prior year, the business earned $0.46 EPS. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities analysts forecast that Conagra Brands Inc will post 2.15 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Wednesday, October 17th were given a $0.2125 dividend. The ex-dividend date of this dividend was Tuesday, October 16th. This represents a $0.85 annualized dividend and a yield of 2.63%. Conagra Brands’s dividend payout ratio is presently 40.28%.

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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.

Further Reading: Liquidity

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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