Prudential Financial Inc. decreased its holdings in Conagra Brands Inc (NYSE:CAG) by 25.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,472,246 shares of the company’s stock after selling 853,110 shares during the quarter. Prudential Financial Inc. owned 0.61% of Conagra Brands worth $83,414,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in CAG. American Century Companies Inc. lifted its holdings in shares of Conagra Brands by 64.0% in the third quarter. American Century Companies Inc. now owns 11,938,659 shares of the company’s stock valued at $402,810,000 after buying an additional 4,660,867 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Conagra Brands by 10,072.6% during the second 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 during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Conagra Brands by 49.8% during the second quarter. Alliancebernstein L.P. now owns 5,674,123 shares of the company’s stock valued at $202,907,000 after purchasing an additional 1,886,614 shares during the last quarter. Valueinvest Asset Management S.A. lifted its holdings in shares of Conagra Brands by 15.7% during the third quarter. Valueinvest Asset Management S.A. now owns 4,591,150 shares of the company’s stock valued at $154,905,000 after purchasing an additional 621,600 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Conagra Brands by 24.4% during the second quarter. JPMorgan Chase & Co. now owns 3,837,098 shares of the company’s stock valued at $137,214,000 after purchasing an additional 751,652 shares during the last quarter. 78.88% of the stock is owned by institutional investors.
CAG has been the subject of several analyst reports. Credit Suisse Group set a $40.00 target price on Conagra Brands and gave the company a “hold” rating in a report on Monday, December 25th. Stifel Nicolaus upped their target price on Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Sanford C. Bernstein raised Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. 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. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a research report on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $40.95.
In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of Conagra Brands stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the transaction, the executive vice president now directly owns 211,514 shares in the company, valued at $7,931,775. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joie A. Gregor sold 5,250 shares of Conagra Brands stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The disclosure for this sale can be found here. Insiders sold a total of 287,990 shares of company stock worth $10,382,810 over the last 90 days. 0.79% of the stock is owned by corporate insiders.
Shares of Conagra Brands Inc (NYSE:CAG) opened at $36.83 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.11 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $14,760.00, a P/E ratio of 21.92, a price-to-earnings-growth ratio of 2.88 and a beta of 0.37. Conagra Brands Inc has a 52-week low of $32.16 and a 52-week high of $41.68.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 21st. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $0.49 EPS. sell-side analysts expect that Conagra Brands Inc will post 1.89 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be given a $0.213 dividend. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 50.60%.
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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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