Conagra Brands Inc. (NYSE:CAG) EVP Colleen Batcheler sold 133,869 shares of the firm’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $34.28, for a total transaction of $4,589,029.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Conagra Brands Inc. (NYSE CAG) opened at 33.69 on Friday. The firm has a market capitalization of $13.76 billion, a PE ratio of 24.22 and a beta of 0.31. The firm’s 50-day moving average is $34.05 and its 200-day moving average is $35.90. Conagra Brands Inc. has a 52-week low of $32.16 and a 52-week high of $41.68.
Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The business’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. On average, analysts anticipate that Conagra Brands Inc. will post $1.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, October 13th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, October 30th. Conagra Brands’s payout ratio is currently 60.28%.
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Several equities analysts recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price objective on shares of Conagra Brands in a research note on Friday, September 29th. Morgan Stanley dropped their price objective on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, September 25th. Finally, Credit Suisse Group dropped their price objective on shares of Conagra Brands from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, September 25th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.24.
Several large investors have recently modified their holdings of CAG. BlackRock Inc. grew its holdings in shares of Conagra Brands by 2,749.9% during the 1st quarter. BlackRock Inc. now owns 26,966,885 shares of the company’s stock worth $1,087,846,000 after purchasing an additional 26,020,645 shares during the period. Janus Henderson Group PLC raised its position in shares of Conagra Brands by 10,072.6% in the 2nd quarter. Janus Henderson Group PLC now owns 6,144,061 shares of the company’s stock valued at $219,711,000 after purchasing an additional 6,083,663 shares in the last quarter. AJO LP raised its position in shares of Conagra Brands by 757.3% during the 2nd quarter. AJO LP now owns 3,118,724 shares of the company’s stock valued at $111,526,000 after acquiring an additional 2,754,930 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Conagra Brands by 49.8% during the 2nd quarter. Alliancebernstein L.P. now owns 5,674,123 shares of the company’s stock valued at $202,907,000 after acquiring an additional 1,886,614 shares in the last quarter. Finally, Numeric Investors LLC raised its position in shares of Conagra Brands by 75.2% during the 2nd quarter. Numeric Investors LLC now owns 3,077,000 shares of the company’s stock valued at $110,034,000 after acquiring an additional 1,321,100 shares in the last quarter. Institutional investors and hedge funds own 79.58% of the company’s stock.
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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