GWM Advisors LLC acquired a new position in Conagra Brands Inc (NYSE:CAG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,036 shares of the company’s stock, valued at approximately $239,000.
Other hedge funds have also bought and sold shares of the company. IFM Investors Pty Ltd increased its position in Conagra Brands by 30.9% during the second quarter. IFM Investors Pty Ltd now owns 17,774 shares of the company’s stock worth $635,000 after purchasing an additional 4,193 shares during the last quarter. CENTRAL TRUST Co increased its position in Conagra Brands by 28.6% during the second quarter. CENTRAL TRUST Co now owns 23,610 shares of the company’s stock worth $844,000 after purchasing an additional 5,246 shares during the last quarter. State of Alaska Department of Revenue increased its position in Conagra Brands by 24.8% during the second quarter. State of Alaska Department of Revenue now owns 240,180 shares of the company’s stock worth $8,579,000 after purchasing an additional 47,760 shares during the last quarter. Raymond James Trust N.A. increased its position in Conagra Brands by 6.7% during the second quarter. Raymond James Trust N.A. now owns 30,596 shares of the company’s stock worth $1,093,000 after purchasing an additional 1,931 shares during the last quarter. Finally, Pennsylvania Trust Co increased its position in Conagra Brands by 11.4% during the second quarter. Pennsylvania Trust Co now owns 39,208 shares of the company’s stock worth $1,401,000 after purchasing an additional 4,000 shares during the last quarter. 81.97% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on shares of Conagra Brands in a research report on Wednesday, October 31st. They issued a “neutral” rating and a $40.00 price objective for the company. Goldman Sachs Group reissued a “buy” rating and issued 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Conagra Brands has a consensus rating of “Buy” and a consensus target price of $42.70.
Conagra Brands stock opened at $35.06 on Wednesday. Conagra Brands Inc has a 52-week low of $32.81 and a 52-week high of $39.43. The firm has a market capitalization of $13.71 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 2.03 and a beta of 0.17. The company has a quick ratio of 0.39, a current ratio of 0.84 and a debt-to-equity ratio of 0.85.
Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, September 27th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. Conagra Brands’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. Research analysts anticipate that Conagra Brands Inc will post 2.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, October 17th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.85 annualized dividend and a dividend yield of 2.42%. Conagra Brands’s dividend payout ratio (DPR) is presently 40.28%.
In other news, CFO David S. Marberger bought 2,836 shares of the firm’s stock in a transaction dated Friday, October 12th. The stock was acquired at an average cost of $35.25 per share, for a total transaction of $99,969.00. Following the completion of the purchase, the chief financial officer now owns 12,721 shares of the company’s stock, valued at $448,415.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sean Connolly bought 14,184 shares of the firm’s stock in a transaction dated Friday, October 12th. The stock was purchased at an average price of $35.25 per share, with a total value of $499,986.00. Following the completion of the purchase, the insider now directly owns 217,607 shares of the company’s stock, valued at approximately $7,670,646.75. The disclosure for this purchase can be found here. Insiders bought 24,112 shares of company stock valued at $849,948 over the last 90 days. Insiders own 0.92% of the company’s stock.
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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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