BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in Conagra Brands Inc (NYSE:CAG) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 235,775 shares of the company’s stock after selling 18,678 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.06% of Conagra Brands worth $8,009,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Aperio Group LLC lifted its position in shares of Conagra Brands by 10.5% in the 2nd quarter. Aperio Group LLC now owns 216,972 shares of the company’s stock worth $7,752,000 after buying an additional 20,600 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in Conagra Brands by 5.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 119,668 shares of the company’s stock valued at $4,276,000 after purchasing an additional 6,206 shares during the last quarter. Comerica Bank lifted its position in Conagra Brands by 15.4% in the 2nd quarter. Comerica Bank now owns 170,640 shares of the company’s stock valued at $6,162,000 after purchasing an additional 22,741 shares during the last quarter. Cognios Capital LLC lifted its position in Conagra Brands by 3.0% in the 2nd quarter. Cognios Capital LLC now owns 68,731 shares of the company’s stock valued at $2,454,000 after purchasing an additional 1,999 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in Conagra Brands by 43.7% in the 2nd quarter. Wells Fargo & Company MN now owns 1,329,718 shares of the company’s stock valued at $47,510,000 after purchasing an additional 404,524 shares during the last quarter. 87.18% of the stock is owned by institutional investors and hedge funds.
In related news, Director Thomas K. Brown purchased 7,092 shares of the company’s stock in a transaction on Friday, October 12th. The shares were bought at an average cost of $35.25 per share, for a total transaction of $249,993.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David S. Marberger purchased 2,836 shares of the company’s stock in a transaction on Friday, October 12th. The shares were bought at an average price of $35.25 per share, for a total transaction of $99,969.00. Following the completion of the transaction, the chief financial officer now directly owns 12,721 shares in the company, valued at approximately $448,415.25. The disclosure for this purchase can be found here. Insiders have acquired a total of 24,112 shares of company stock worth $849,948 over the last 90 days. 0.92% of the stock is owned by insiders.
Several analysts recently weighed in on CAG shares. Stephens started coverage on shares of Conagra Brands in a research report on Monday, August 20th. They issued an “overweight” rating and a $45.00 price objective on the stock. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price objective on the stock in a research report on Wednesday, August 29th. Jefferies Financial Group set a $44.00 price objective on shares of Conagra Brands and gave the company a “buy” rating in a research report on Thursday, September 27th. ValuEngine downgraded shares of Conagra Brands from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, UBS Group upgraded shares of Conagra Brands from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $38.00 to $40.00 in a research report on Monday, October 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $42.20.
Shares of NYSE:CAG opened at $30.84 on Friday. The stock has a market capitalization of $12.57 billion, a P/E ratio of 14.62, a PEG ratio of 1.87 and a beta of 0.14. Conagra Brands Inc has a fifty-two week low of $30.55 and a fifty-two week high of $39.43. 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 issued its quarterly earnings data 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). The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.85 billion. Conagra Brands had a net margin of 10.47% and a return on equity of 22.50%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share. On average, research analysts expect that Conagra Brands Inc will post 2.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Wednesday, January 30th will be given a dividend of $0.2125 per share. The ex-dividend date is Tuesday, January 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.76%. Conagra Brands’s dividend payout ratio (DPR) is 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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