Livforsakringsbolaget Skandia Omsesidigt trimmed its holdings in Conagra Brands Inc (NYSE:CAG) by 44.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,476 shares of the company’s stock after selling 2,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Conagra Brands were worth $118,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. F&V Capital Management LLC grew its stake in shares of Conagra Brands by 2.4% in the third quarter. F&V Capital Management LLC now owns 127,290 shares of the company’s stock worth $4,324,000 after acquiring an additional 3,000 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Conagra Brands by 22.4% during the third quarter. First Trust Advisors LP now owns 1,042,912 shares of the company’s stock worth $35,428,000 after purchasing an additional 190,708 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Conagra Brands by 29.0% during the third quarter. Steward Partners Investment Advisory LLC now owns 22,240 shares of the company’s stock worth $755,000 after purchasing an additional 5,000 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Conagra Brands during the third quarter worth $685,000. Finally, Three Peaks Capital Management LLC acquired a new position in shares of Conagra Brands during the third quarter worth $2,522,000. 81.97% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Sean Connolly purchased 14,184 shares of Conagra Brands stock in a transaction that occurred on Friday, October 12th. The stock was purchased at an average cost of $35.25 per share, with a total value of $499,986.00. Following the completion of the transaction, the insider now directly owns 217,607 shares in the company, valued at $7,670,646.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David S. Marberger purchased 2,836 shares of Conagra Brands stock in a transaction that occurred on Friday, October 12th. The stock was bought at an average cost of $35.25 per share, with a total value of $99,969.00. Following the completion of the transaction, the chief financial officer now owns 12,721 shares of the company’s stock, valued at $448,415.25. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 24,112 shares of company stock valued at $849,948. 0.92% of the stock is owned by corporate insiders.
A number of equities analysts recently commented on CAG shares. UBS Group upgraded shares of Conagra Brands from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $40.00 in a research note on Monday, October 8th. Jefferies Financial Group set a $44.00 target price on shares of Conagra Brands and gave the stock a “buy” rating in a research note on Thursday, September 27th. Zacks Investment Research downgraded shares of Conagra Brands from a “buy” rating to a “sell” rating in a research note on Wednesday, September 26th. ValuEngine upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Finally, Credit Suisse Group started coverage on shares of Conagra Brands in a research note on Wednesday, October 31st. They set a “neutral” rating and a $40.00 target price for the company. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $42.70.
Shares of CAG stock 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 firm has a market cap of $13.71 billion, a P/E ratio of 16.59, a PEG ratio of 2.03 and a beta of 0.17. Conagra Brands Inc has a 12 month low of $32.81 and a 12 month high of $39.43.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). Conagra Brands had a net margin of 10.47% and a return on equity of 22.50%. The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same period last year, the firm earned $0.46 earnings per share. Conagra Brands’s revenue was up 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Conagra Brands Inc will post 2.15 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 17th will be given a $0.2125 dividend. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.85 dividend on an annualized basis and a yield of 2.43%. Conagra Brands’s dividend payout ratio (DPR) is presently 40.28%.
About Conagra Brands
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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