Nomura Asset Management Co. Ltd. lessened its stake in shares of Conagra Brands Inc. (NYSE:CAG) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,029 shares of the company’s stock after selling 9,559 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Conagra Brands were worth $4,049,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in CAG. Sun Life Financial INC lifted its stake in shares of Conagra Brands by 32,666.7% in the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock valued at $105,000 after buying an additional 2,940 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in shares of Conagra Brands by 143.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock valued at $112,000 after acquiring an additional 1,851 shares during the last quarter. Advisors Asset Management Inc. raised its stake in shares of Conagra Brands by 57.1% in the second quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $168,000 after acquiring an additional 1,705 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of Conagra Brands by 7.7% in the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after purchasing an additional 370 shares in the last quarter. Finally, Evercore Wealth Management LLC increased its holdings in shares of Conagra Brands by 12.9% in the second quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock valued at $226,000 after purchasing an additional 725 shares in the last quarter. Institutional investors and hedge funds own 79.04% of the company’s stock.
Shares of Conagra Brands Inc. (NYSE CAG) opened at $37.25 on Friday. Conagra Brands Inc. has a 12-month low of $32.16 and a 12-month high of $41.68. The company has a market cap of $15,216.55, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.81 and a beta of 0.37. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.03 and a quick ratio of 0.51.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The company had revenue of $1.80 billion during 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 firm’s revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 EPS. equities analysts forecast that Conagra Brands Inc. will post 1.89 EPS for the current 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 dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 2.28%. The ex-dividend date was Monday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is 60.28%.
In other news, EVP Colleen Batcheler sold 120,451 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 211,514 shares in the company, valued at approximately $7,931,775. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.79% of the company’s stock.
CAG has been the topic of several recent analyst reports. BidaskClub lowered shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and increased 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. Credit Suisse Group decreased their target price 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. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, November 22nd. Finally, Jefferies Group reissued a “buy” rating and issued a $40.00 price objective on shares of Conagra Brands in a research note on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. Conagra Brands has a consensus rating of “Hold” and an average target price of $40.03.
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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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