Guggenheim Capital LLC reduced its position in shares of Conagra Brands Inc (NYSE:CAG) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,657 shares of the company’s stock after selling 6,265 shares during the period. Guggenheim Capital LLC’s holdings in Conagra Brands were worth $4,538,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in Conagra Brands during the 4th quarter worth $3,084,000. Squarepoint Ops LLC grew its stake in shares of Conagra Brands by 15.4% in the first quarter. Squarepoint Ops LLC now owns 113,880 shares of the company’s stock valued at $3,341,000 after acquiring an additional 15,230 shares in the last quarter. Bell Bank grew its stake in shares of Conagra Brands by 1.1% in the fourth quarter. Bell Bank now owns 65,894 shares of the company’s stock valued at $2,256,000 after acquiring an additional 712 shares in the last quarter. Toronto Dominion Bank increased its position in Conagra Brands by 40.6% during the fourth quarter. Toronto Dominion Bank now owns 675,123 shares of the company’s stock worth $23,113,000 after acquiring an additional 194,896 shares during the period. Finally, Engineers Gate Manager LP raised its stake in Conagra Brands by 16.2% in the 1st quarter. Engineers Gate Manager LP now owns 34,557 shares of the company’s stock worth $1,014,000 after purchasing an additional 4,818 shares in the last quarter. 82.69% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on CAG shares. SunTrust Banks cut Conagra Brands from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a research note on Monday, May 11th. Standpoint Research lowered Conagra Brands from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Jefferies Financial Group 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 research report on Monday, June 22nd. Morgan Stanley upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Monday, June 8th. Finally, Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $26.00 to $30.00 in a research note on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Conagra Brands has a consensus rating of “Hold” and a consensus price target of $34.38.
In related news, Director Jana Partners Llc sold 274,341 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $34.60, for a total transaction of $9,492,198.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas K. Brown sold 7,336 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $32.44, for a total value of $237,979.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 367,911 shares of company stock valued at $12,745,447. 0.84% of the stock is currently owned by corporate insiders.
Shares of CAG opened at $33.70 on Tuesday. The firm has a market capitalization of $15.90 billion, a P/E ratio of 21.47, a P/E/G ratio of 2.02 and a beta of 0.82. Conagra Brands Inc has a 52 week low of $22.83 and a 52 week high of $35.59. The stock has a 50 day moving average price of $33.56 and a two-hundred day moving average price of $31.78. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.34 and a current ratio of 0.87.
Conagra Brands (NYSE:CAG) last announced its earnings results on Tuesday, March 31st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.59 billion. Conagra Brands had a net margin of 7.37% and a return on equity of 12.08%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. On average, equities analysts forecast that Conagra Brands Inc will post 2.19 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th were paid a $0.2125 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $0.85 annualized dividend and a dividend yield of 2.52%. 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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