Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Conagra Brands Inc. (NYSE:CAG) by 12.6% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 33,804 shares of the company’s stock after acquiring an additional 3,773 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Conagra Brands were worth $1,141,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Sun Life Financial INC lifted its position in 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 during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Conagra Brands by 143.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock valued at $112,000 after buying an additional 1,851 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Conagra Brands by 57.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $168,000 after buying an additional 1,705 shares during the period. Krilogy Financial LLC lifted its holdings in shares of Conagra Brands by 7.7% in the 2nd quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after buying an additional 370 shares during the period. Finally, Evercore Wealth Management LLC raised its holdings in Conagra Brands by 12.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock worth $226,000 after purchasing an additional 725 shares during the period. 79.04% of the stock is owned by institutional investors.
Conagra Brands Inc. (NYSE CAG) opened at $37.93 on Tuesday. The company has a market capitalization of $15,306.42, a price-to-earnings ratio of 20.82, a P/E/G ratio of 2.83 and a beta of 0.37. Conagra Brands Inc. has a twelve month low of $32.16 and a twelve month high of $41.68. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 0.71.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company posted $0.37 earnings per share. The business’s revenue was down 4.8% on a year-over-year basis. equities analysts expect that Conagra Brands Inc. will post 1.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Friday, October 13th were given a $0.2125 dividend. The ex-dividend date was Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a yield of 2.24%. Conagra Brands’s payout ratio is currently 60.28%.
Several equities research analysts have commented on CAG shares. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Credit Suisse Group restated a “hold” rating and issued a $39.00 price target on shares of Conagra Brands in a research report on Friday, August 11th. Morgan Stanley lowered their price objective on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, September 25th. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price objective on shares of Conagra Brands in a research report on Friday, September 29th. Finally, Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $40.03.
In related news, EVP Colleen Batcheler sold 120,451 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total value of $4,516,912.50. Following the completion of the sale, the executive vice president now owns 211,514 shares in the company, valued at $7,931,775. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by company insiders.
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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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