Black Swift Group LLC Acquires New Holdings in Conagra Brands $CAG

Black Swift Group LLC acquired a new stake in shares of Conagra Brands (NYSE:CAG) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 80,390 shares of the company’s stock, valued at approximately $1,392,000.

Other institutional investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new position in Conagra Brands during the second quarter valued at approximately $26,000. MUFG Securities EMEA plc acquired a new position in Conagra Brands during the second quarter valued at approximately $29,000. Harbour Investments Inc. grew its holdings in Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Conagra Brands during the third quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in Conagra Brands by 100.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company’s stock valued at $35,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Performance

NYSE CAG opened at $13.29 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.30 and a debt-to-equity ratio of 0.79. The firm’s fifty day moving average price is $14.53 and its two-hundred day moving average price is $16.64. Conagra Brands has a 1 year low of $13.13 and a 1 year high of $22.98. The firm has a market capitalization of $6.36 billion, a P/E ratio of -132.86 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. During the same period last year, the company posted $0.51 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. As a group, research analysts anticipate that Conagra Brands will post 1.7 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Shareholders of record on Thursday, April 30th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 10.5%. The ex-dividend date of this dividend is Thursday, April 30th. Conagra Brands’s dividend payout ratio is -1,400.00%.

Insider Buying and Selling at Conagra Brands

In other news, Director John J. Mulligan purchased 17,500 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were purchased at an average cost of $14.31 per share, with a total value of $250,425.00. Following the completion of the transaction, the director owned 20,728 shares of the company’s stock, valued at $296,617.68. The trade was a 542.13% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard H. Lenny purchased 25,000 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were purchased at an average cost of $14.34 per share, for a total transaction of $358,500.00. Following the completion of the transaction, the director directly owned 229,340 shares of the company’s stock, valued at approximately $3,288,735.60. This represents a 12.23% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CAG. Sanford C. Bernstein cut their price target on shares of Conagra Brands from $18.00 to $16.00 and set a “market perform” rating on the stock in a research note on Thursday, April 2nd. Zacks Research lowered shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Royal Bank Of Canada cut their price target on shares of Conagra Brands from $20.00 to $17.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 2nd. Wall Street Zen raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Evercore cut their price target on shares of Conagra Brands from $19.00 to $18.00 in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $15.47.

Conagra Brands Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.