Jennison Associates LLC raised its stake in Conagra Brands Inc. (NYSE:CAG) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,554,064 shares of the company’s stock after purchasing an additional 3,343 shares during the period. Jennison Associates LLC owned 0.87% of Conagra Brands worth $119,914,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Paradigm Asset Management Co. LLC increased its stake in Conagra Brands by 7.5% in the second quarter. Paradigm Asset Management Co. LLC now owns 100,470 shares of the company’s stock valued at $3,593,000 after purchasing an additional 7,000 shares during the last quarter. State of Tennessee Treasury Department increased its stake in Conagra Brands by 1.2% in the second quarter. State of Tennessee Treasury Department now owns 1,360,161 shares of the company’s stock valued at $48,640,000 after purchasing an additional 16,143 shares during the last quarter. Alethea Capital Management LLC purchased a new position in Conagra Brands in the second quarter valued at approximately $3,610,000. Sciencast Management LP purchased a new position in Conagra Brands in the second quarter valued at approximately $1,262,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Conagra Brands by 13.9% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,254,398 shares of the company’s stock valued at $44,857,000 after purchasing an additional 153,309 shares during the last quarter. Institutional investors own 79.82% of the company’s stock.
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Conagra Brands Inc. (CAG) traded up $0.84 during trading on Friday, reaching $34.80. The company’s stock had a trading volume of 2,810,800 shares, compared to its average volume of 3,041,499. Conagra Brands Inc. has a 12 month low of $32.16 and a 12 month high of $41.68. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $14,215.73, a P/E ratio of 19.33, a P/E/G ratio of 2.63 and a beta of 0.32.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.79 billion. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. Conagra Brands’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. equities analysts anticipate that Conagra Brands Inc. will post 1.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Monday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is presently 60.28%.
A number of brokerages have recently issued reports on CAG. Royal Bank Of Canada restated a “buy” rating and set a $45.00 target price on shares of Conagra Brands in a research report on Friday, September 29th. Credit Suisse Group restated a “hold” rating and set a $39.00 target price on shares of Conagra Brands in a research report on Friday, August 11th. BidaskClub upgraded shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Finally, Jefferies Group LLC restated a “buy” rating and set a $40.00 target price on shares of Conagra Brands in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.03.
In other news, EVP Colleen Batcheler sold 133,869 shares of Conagra Brands stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total transaction of $4,589,029.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.
Conagra Brands Company Profile
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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