Conagra Brands Sees Unusually Large Options Volume (NYSE:CAG)

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Conagra Brands, Inc. (NYSE:CAG) was the target of some unusual options trading on Wednesday. Stock traders acquired 7,655 put options on the company. This represents an increase of approximately 1,131% compared to the average daily volume of 622 put options.

A number of equities analysts have commented on CAG shares. Jefferies Financial Group initiated coverage on Conagra Brands in a report on Friday, January 8th. They set a “buy” rating and a $41.00 target price for the company. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 target price for the company in a research report on Monday, January 11th. Finally, Credit Suisse Group upped their price objective on shares of Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a research note on Monday, March 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $36.71.

In related news, COO Thomas M. Mcgough sold 45,660 shares of the company’s stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $37.55, for a total value of $1,714,533.00. Following the completion of the transaction, the chief operating officer now owns 102,001 shares of the company’s stock, valued at approximately $3,830,137.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Lenny acquired 10,000 shares of the business’s stock in a transaction dated Friday, January 8th. The stock was acquired at an average price of $33.70 per share, with a total value of $337,000.00. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAG. Patriot Financial Group Insurance Agency LLC grew its position in Conagra Brands by 10,010.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,011 shares of the company’s stock valued at $37,000 after acquiring an additional 1,001 shares in the last quarter. Kinloch Capital LLC purchased a new position in Conagra Brands in the 4th quarter valued at approximately $42,000. Ellevest Inc. increased its position in shares of Conagra Brands by 2,337.7% during the fourth quarter. Ellevest Inc. now owns 1,292 shares of the company’s stock worth $47,000 after acquiring an additional 1,239 shares during the period. CVA Family Office LLC grew its stake in Conagra Brands by 25.1% during the 4th quarter. CVA Family Office LLC now owns 1,683 shares of the company’s stock worth $61,000 after purchasing an additional 338 shares in the last quarter. Finally, TD Ameritrade Investment Management LLC purchased a new stake in Conagra Brands during the 4th quarter worth about $65,000. Institutional investors and hedge funds own 82.11% of the company’s stock.

Shares of Conagra Brands stock opened at $37.24 on Thursday. The business’s fifty day simple moving average is $36.31 and its 200-day simple moving average is $35.81. The company has a quick ratio of 0.35, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market cap of $18.19 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Conagra Brands has a 52 week low of $30.12 and a 52 week high of $39.34.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, January 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.07. Conagra Brands had a net margin of 9.67% and a return on equity of 16.50%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands will post 2.6 earnings per share for the current year.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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