SG Americas Securities LLC boosted its stake in shares of Conagra Brands Inc (NYSE:CAG) by 84.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 204,662 shares of the company’s stock after purchasing an additional 93,736 shares during the period. SG Americas Securities LLC’s holdings in Conagra Brands were worth $6,279,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CAG. Pennsylvania Trust Co lifted its position in Conagra Brands by 3.1% during the second quarter. Pennsylvania Trust Co now owns 25,250 shares of the company’s stock valued at $670,000 after purchasing an additional 750 shares during the period. Kwmg LLC increased its holdings in Conagra Brands by 4.7% during the second quarter. Kwmg LLC now owns 81,333 shares of the company’s stock valued at $2,157,000 after buying an additional 3,643 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in Conagra Brands by 8.0% during the second quarter. Xact Kapitalforvaltning AB now owns 94,926 shares of the company’s stock valued at $2,517,000 after buying an additional 6,997 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Conagra Brands by 3.1% during the second quarter. Nisa Investment Advisors LLC now owns 195,211 shares of the company’s stock valued at $5,177,000 after buying an additional 5,865 shares during the last quarter. Finally, Old Port Advisors increased its holdings in Conagra Brands by 9.4% during the second quarter. Old Port Advisors now owns 81,277 shares of the company’s stock valued at $2,297,000 after buying an additional 7,012 shares during the last quarter. Institutional investors own 86.26% of the company’s stock.
CAG has been the subject of a number of research reports. ValuEngine raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Barclays set a $33.00 target price on shares of Conagra Brands and gave the company a “buy” rating in a report on Friday, September 27th. Citigroup upped their target price on shares of Conagra Brands from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 27th. Credit Suisse Group reaffirmed a “hold” rating and set a $29.00 target price on shares of Conagra Brands in a report on Thursday, September 19th. Finally, Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their target price for the company from $33.00 to $31.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $33.33.
In related news, EVP Colleen Batcheler sold 25,458 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.00, for a total transaction of $763,740.00. Following the completion of the transaction, the executive vice president now directly owns 169,873 shares of the company’s stock, valued at $5,096,190. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas M. Mcgough sold 26,099 shares of the firm’s 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 transaction, the chief operating officer now directly owns 145,869 shares of the company’s stock, valued at $4,521,939. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.
Shares of NYSE CAG traded down $0.36 during midday trading on Friday, reaching $27.44. The stock had a trading volume of 2,586,227 shares, compared to its average volume of 5,833,551. The stock has a 50-day moving average of $28.29 and a 200-day moving average of $28.69. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.40 and a current ratio of 1.11. The company has a market capitalization of $13.44 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. Conagra Brands Inc has a 12-month low of $20.22 and a 12-month high of $35.72.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, September 26th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.04. The firm had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.48 billion. Conagra Brands had a net margin of 6.68% and a return on equity of 12.34%. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.47 earnings per share. As a group, analysts forecast that Conagra Brands Inc will post 2.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 1st will be paid a dividend of $0.2125 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.85 annualized dividend and a yield of 3.10%. Conagra Brands’s payout ratio is 42.29%.
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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