Highbridge Capital Management LLC lifted its stake in shares of Conagra Brands Inc. (NYSE:CAG) by 348.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 384,764 shares of the company’s stock after buying an additional 298,888 shares during the period. Highbridge Capital Management LLC owned about 0.09% of Conagra Brands worth $12,982,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in CAG. Cornerstone Capital Management Holdings LLC. boosted its position in Conagra Brands by 1.2% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 181,595 shares of the company’s stock worth $6,126,000 after purchasing an additional 2,161 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its position in Conagra Brands by 4.0% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 362,977 shares of the company’s stock worth $12,247,000 after purchasing an additional 13,906 shares during the last quarter. Cowen Inc. boosted its position in Conagra Brands by 279.4% in the third quarter. Cowen Inc. now owns 149,371 shares of the company’s stock worth $5,039,000 after purchasing an additional 110,000 shares during the last quarter. First Republic Investment Management Inc. boosted its position in Conagra Brands by 11.7% in the third quarter. First Republic Investment Management Inc. now owns 16,310 shares of the company’s stock worth $549,000 after purchasing an additional 1,709 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in shares of Conagra Brands by 5.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 1,093,619 shares of the company’s stock valued at $36,928,000 after buying an additional 55,298 shares during the last quarter. 79.03% of the stock is currently owned by institutional investors.
Conagra Brands Inc. (NYSE:CAG) remained flat at $$37.25 during trading hours on Monday. 2,127,200 shares of the company’s stock traded hands, compared to its average volume of 3,474,334. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 1.03. Conagra Brands Inc. has a 12 month low of $32.16 and a 12 month high of $41.68. The company has a market capitalization of $15,216.55, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 2.81 and a beta of 0.37.
Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company posted $0.37 EPS. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. equities analysts forecast that Conagra Brands Inc. will post 1.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Friday, October 13th were paid a dividend of $0.2125 per share. The ex-dividend date was Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.28%. Conagra Brands’s payout ratio is 60.28%.
In related news, EVP Colleen Batcheler sold 133,869 shares of the business’s 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 document filed with the SEC, which is available through this hyperlink. Insiders own 0.79% of the company’s stock.
A number of brokerages have recently commented on CAG. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, November 22nd. Morgan Stanley dropped their price target on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, September 25th. Stifel Nicolaus raised Conagra Brands from a “hold” rating to a “buy” rating and upped their price target for the company 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 dropped their price target on Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, September 25th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Conagra Brands in a research report on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Conagra Brands currently has an average rating of “Hold” and an average price target 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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