C2C Wealth Management LLC purchased a new position in Conagra Brands, Inc. (NYSE: CAG – Get Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,865 shares of the company stock, valued at approximately $ 439,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. increased its position in Conagra Brands by 14.6% in the fourth quarter. Russell Investments Group Ltd. now owns 1,108,105 shares of the company stock worth $ 37,822,000 after purchasing an additional 140,986 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Conagra Brands by 9.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,454,429 shares of the company stock valued at $ 83,819,000 after acquiring an additional 221,964 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in Conagra Brands by 19.5% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 621,546 shares of the company stock valued at $ 21,226,000 after acquiring an additional 101,285 shares during the last quarter. Nordea Investment Management AB increased its position in Conagra Brands by 60.7% during the fourth quarter. Nordea Investment Management AB now owns 2,896,618 shares of the company stock valued at $ 98,094,000 after acquiring an additional 1,093,878 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Conagra Brands by 10.4% during the fourth quarter. First Horizon Advisors Inc. now owns 5,433 shares of the company stock valued at $ 185,000 after acquiring an additional 513 shares during the last quarter. Institutional investors own 83.21% of the company stock.
CAG has been the topic of a number of analyst reports. Consumer Edge cut shares of Conagra Brands from an “overweight” rating to an “equal weight” rating and set a $ 34.00 price objective on the stock. in a research report on Tuesday, March 8th. Evercore ISI initiated coverage on shares of Conagra Brands in a research report on Friday, April 8th. They set a “buy” rating and a $ 40.00 price objective on the stock. StockNews.com assumed coverage on shares of Conagra Brands in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, UBS Group assumed coverage on shares of Conagra Brands in a report on Wednesday, March 30th. They issued a “neutral” rating and a $ 34.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $ 36.09.
In related news, COO Darren Serrao sold 11,700 shares of the stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $ 34.49, for a total value of $ 403,533.00. Following the transaction, the chief operating officer now owns 111,978 shares in the company, valued at approximately $ 3,862,121.22. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Thomas M. Mcgough sold 25,400 shares of the stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $ 36.95, for a total transaction of $ 938,530.00. Following the completion of the transaction, the chief operating officer now owns 96,550 shares in the company, valued at approximately $ 3,567,522.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,580 shares of company stock worth $ 3,952,793. 2.10% of the stock is owned by corporate insiders.
CAG opened at $ 31.75 on Friday. Conagra Brands, Inc. has a 52-week low of $ 30.06 and a 52-week high of $ 37.07. The company has a quick ratio of 0.33, a current ratio of 0.83 and a debt-to-equity ratio of 0.91. The company has a market cap of $ 15.24 billion, a P / E ratio of 14.77, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68. The firm’s 50-day moving average price is $ 34.18 and its 200-day moving average price is $ 33.91.
Conagra Brands (NYSE: CAG – Get Rating) last posted its quarterly earnings data on Thursday, April 7th. The company reported $ 0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 0.57 by $ 0.01. Conagra Brands had a net margin of 9.14% and a return on equity of 12.46%. The firm had revenue of $ 2.91 billion for the quarter, compared to the estimate consensus of $ 2.84 billion. During the same quarter in the prior year, the company posted $ 0.59 earnings per share. The company revenue for the quarter was up 5.1% compared to the same quarter last year. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 1st. Investors of record on Friday, April 29th were issued a $ 0.3125 dividend. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $ 1.25 annualized dividend and a yield of 3.94%. Conagra Brands’s dividend payout ratio (DPR) is presently 58.14%.
Conagra Brands Company Profile: (Get Rating)
Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods 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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