Keybank National Association OH boosted its stake in Conagra Brands Inc (NYSE:CAG) by 14.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,528 shares of the company’s stock after purchasing an additional 13,509 shares during the period. Keybank National Association OH’s holdings in Conagra Brands were worth $3,206,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. Nuveen Asset Management LLC bought a new position in shares of Conagra Brands during the second quarter valued at $324,440,000. Invesco Ltd. raised its stake in shares of Conagra Brands by 107.2% during the second quarter. Invesco Ltd. now owns 6,661,440 shares of the company’s stock valued at $176,663,000 after acquiring an additional 3,445,854 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Conagra Brands by 1.6% during the second quarter. Vanguard Group Inc. now owns 54,855,180 shares of the company’s stock valued at $1,454,759,000 after acquiring an additional 874,779 shares during the last quarter. Poplar Forest Capital LLC raised its stake in shares of Conagra Brands by 91.6% during the second quarter. Poplar Forest Capital LLC now owns 1,244,196 shares of the company’s stock valued at $32,996,000 after acquiring an additional 594,957 shares during the last quarter. Finally, Eaton Vance Management raised its stake in shares of Conagra Brands by 78.7% during the second quarter. Eaton Vance Management now owns 959,251 shares of the company’s stock valued at $25,439,000 after acquiring an additional 422,438 shares during the last quarter. 86.26% of the stock is owned by institutional investors and hedge funds.
In other news, COO Thomas M. Mcgough sold 26,099 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total transaction of $809,069.00. Following the completion of the sale, the chief operating officer now directly owns 145,869 shares in the company, valued at $4,521,939. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Colleen Batcheler sold 25,458 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $30.00, for a total transaction of $763,740.00. Following the sale, the executive vice president now owns 169,873 shares of the company’s stock, valued at $5,096,190. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.
Shares of CAG traded down $0.36 during trading hours on Friday, hitting $27.44. 2,586,227 shares of the stock were exchanged, compared to its average volume of 5,833,551. Conagra Brands Inc has a fifty-two week low of $20.22 and a fifty-two week high of $35.72. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.11 and a quick ratio of 0.40. The business has a 50-day moving average of $28.29 and a 200-day moving average of $28.69. The firm has a market capitalization of $13.44 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, September 26th. The company reported $0.43 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.04. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.48 billion. During the same period in the prior year, the company posted $0.47 earnings per share. Conagra Brands’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, analysts forecast that Conagra Brands Inc will post 2.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.
Several research firms have recently issued reports on CAG. Barclays set a $33.00 price target on shares of Conagra Brands and gave the company a “buy” rating in a research note on Friday, September 27th. Credit Suisse Group reaffirmed a “hold” rating and set a $29.00 price target on shares of Conagra Brands in a research note on Thursday, September 19th. Citigroup raised their price target on shares of Conagra Brands from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 27th. ValuEngine raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $31.00 in a research note on Friday, September 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $33.33.
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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