Archford Capital Strategies LLC increased its position in shares of Conagra Brands Inc. (NYSE:CAG) by 2,028.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,414 shares of the company’s stock after acquiring an additional 22,314 shares during the period. Archford Capital Strategies LLC’s holdings in Conagra Brands were worth $1,483,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sun Life Financial INC boosted its position in shares of Conagra Brands by 32,666.7% during the 2nd quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after acquiring an additional 2,940 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Conagra Brands during the 1st quarter worth approximately $110,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Conagra Brands by 143.7% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after acquiring an additional 1,851 shares in the last quarter. Alpha Windward LLC boosted its position in shares of Conagra Brands by 5.8% during the 2nd quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock worth $128,000 after acquiring an additional 196 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Conagra Brands by 53.3% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,833 shares of the company’s stock worth $137,000 after acquiring an additional 1,333 shares in the last quarter. Institutional investors and hedge funds own 79.75% of the company’s stock.
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Several analysts recently issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 price target on shares of Conagra Brands in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 price target on shares of Conagra Brands in a research report on Friday, September 29th. Morgan Stanley reduced their price target on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, September 25th. Finally, Credit Suisse Group reduced their price target on shares of Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, September 25th. Three analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $41.31.
Shares of Conagra Brands Inc. (NYSE:CAG) traded down 0.75% during trading on Friday, reaching $34.33. 4,692,253 shares of the company traded hands. Conagra Brands Inc. has a 12-month low of $32.16 and a 12-month high of $41.68. The stock has a market capitalization of $14.02 billion, a PE ratio of 24.68 and a beta of 0.31. The firm’s 50-day moving average is $33.81 and its 200-day moving average is $36.26.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, equities analysts predict that Conagra Brands Inc. will post $1.88 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, October 13th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a yield of 2.48%. Conagra Brands’s dividend payout ratio is presently 60.28%.
Conagra Brands announced that its Board of Directors has authorized a share buyback program on Thursday, June 29th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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