Investors Buy Shares of Conagra Brands (CAG) on Weakness

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Traders purchased shares of Conagra Brands Inc (NYSE:CAG) on weakness during trading hours on Friday. $90.75 million flowed into the stock on the tick-up and $27.32 million flowed out of the stock on the tick-down, for a money net flow of $63.43 million into the stock. Of all stocks tracked, Conagra Brands had the 26th highest net in-flow for the day. Conagra Brands traded down ($0.07) for the day and closed at $34.39

Several brokerages have recently commented on CAG. Stephens began coverage on Conagra Brands in a research report on Monday, August 20th. They issued an “overweight” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Conagra Brands from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. ValuEngine downgraded Conagra Brands from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Finally, Credit Suisse Group began coverage on Conagra Brands in a research report on Wednesday, October 31st. They issued a “neutral” rating and a $40.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $42.70.

The company has a quick ratio of 0.39, a current ratio of 0.84 and a debt-to-equity ratio of 0.85. The firm has a market capitalization of $13.74 billion, a PE ratio of 16.30, a PEG ratio of 2.04 and a beta of 0.17.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, September 27th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $0.46 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities analysts predict 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 issued 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 2.47%. Conagra Brands’s dividend payout ratio (DPR) is 40.28%.

In other news, CFO David S. Marberger bought 2,836 shares of Conagra Brands stock in a transaction dated Friday, October 12th. The shares were purchased at an average cost of $35.25 per share, with a total value of $99,969.00. Following the completion of the acquisition, the chief financial officer now owns 12,721 shares of the company’s stock, valued at approximately $448,415.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Thomas K. Brown bought 7,092 shares of Conagra Brands stock in a transaction dated Friday, October 12th. The stock was purchased at an average cost of $35.25 per share, for a total transaction of $249,993.00. The disclosure for this purchase can be found here. Insiders bought 24,112 shares of company stock worth $849,948 over the last ninety days. Insiders own 0.92% of the company’s stock.

Several hedge funds have recently modified their holdings of CAG. IFM Investors Pty Ltd increased its stake in shares of Conagra Brands by 30.9% in the 2nd quarter. IFM Investors Pty Ltd now owns 17,774 shares of the company’s stock valued at $635,000 after acquiring an additional 4,193 shares during the last quarter. CENTRAL TRUST Co increased its stake in shares of Conagra Brands by 28.6% in the 2nd quarter. CENTRAL TRUST Co now owns 23,610 shares of the company’s stock valued at $844,000 after acquiring an additional 5,246 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Conagra Brands by 24.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 240,180 shares of the company’s stock valued at $8,579,000 after acquiring an additional 47,760 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of Conagra Brands by 6.7% in the 2nd quarter. Raymond James Trust N.A. now owns 30,596 shares of the company’s stock valued at $1,093,000 after acquiring an additional 1,931 shares during the last quarter. Finally, Pennsylvania Trust Co increased its stake in shares of Conagra Brands by 11.4% in the 2nd quarter. Pennsylvania Trust Co now owns 39,208 shares of the company’s stock valued at $1,401,000 after acquiring an additional 4,000 shares during the last quarter. 81.97% of the stock is currently owned by hedge funds and other institutional investors.

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Conagra Brands Company Profile (NYSE:CAG)

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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