Fmr LLC decreased its position in Conagra Brands Inc (NYSE:CAG) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,197,280 shares of the company’s stock after selling 613,646 shares during the period. Fmr LLC’s holdings in Conagra Brands were worth $149,969,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Macquarie Group Ltd. grew its stake in shares of Conagra Brands by 57,565.2% in the 2nd quarter. Macquarie Group Ltd. now owns 4,555,550 shares of the company’s stock valued at $162,770,000 after buying an additional 4,547,650 shares during the period. Jennison Associates LLC grew its stake in shares of Conagra Brands by 2.7% in the 2nd quarter. Jennison Associates LLC now owns 3,459,244 shares of the company’s stock valued at $123,599,000 after buying an additional 91,196 shares during the period. Bank of America Corp DE grew its stake in shares of Conagra Brands by 4.5% in the 2nd quarter. Bank of America Corp DE now owns 2,917,925 shares of the company’s stock valued at $104,256,000 after buying an additional 125,768 shares during the period. TD Asset Management Inc. grew its stake in shares of Conagra Brands by 17.8% in the 2nd quarter. TD Asset Management Inc. now owns 2,909,940 shares of the company’s stock valued at $103,972,000 after buying an additional 438,889 shares during the period. Finally, Coho Partners Ltd. grew its stake in shares of Conagra Brands by 2.9% in the 2nd quarter. Coho Partners Ltd. now owns 2,632,548 shares of the company’s stock valued at $94,061,000 after buying an additional 73,933 shares during the period. 81.97% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on CAG. Credit Suisse Group began coverage on shares of Conagra Brands in a research note on Wednesday, October 31st. They issued a “neutral” rating and a $40.00 price target for the company. Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Conagra Brands in a research report on Wednesday, October 24th. ValuEngine raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Monday, October 8th. UBS Group raised shares of Conagra Brands from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $38.00 to $40.00 in a research report on Monday, October 8th. Finally, Jefferies Financial Group set a $44.00 price objective on shares of Conagra Brands and gave the stock a “buy” rating in a research report on Friday, October 5th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $42.70.
In other Conagra Brands news, insider Sean Connolly bought 14,184 shares of Conagra Brands stock in a transaction on Friday, October 12th. The shares were bought at an average cost of $35.25 per share, for a total transaction of $499,986.00. Following the acquisition, the insider now directly owns 217,607 shares in the company, valued at $7,670,646.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David S. Marberger bought 2,836 shares of Conagra Brands stock in a transaction on Friday, October 12th. The shares were acquired at an average price of $35.25 per share, for a total transaction of $99,969.00. Following the completion of the acquisition, the chief financial officer now owns 12,721 shares in the company, valued at $448,415.25. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 24,112 shares of company stock worth $849,948. 0.92% of the stock is owned by company insiders.
NYSE:CAG opened at $35.00 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.39. The company has a market cap of $13.71 billion, a P/E ratio of 16.59, a P/E/G ratio of 2.03 and a beta of 0.17. Conagra Brands Inc has a fifty-two week low of $32.81 and a fifty-two week high of $39.43.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.02). The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 EPS. As a group, equities analysts forecast that Conagra Brands Inc will post 2.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 17th will be given a dividend of $0.2125 per share. The ex-dividend date is Tuesday, October 16th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.43%. Conagra Brands’s payout ratio is currently 40.28%.
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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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