Conagra Brands Inc (NYSE:CAG) SVP Robert G. Wise sold 23,170 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total transaction of $877,447.90. Following the sale, the senior vice president now directly owns 51,859 shares of the company’s stock, valued at approximately $1,963,900.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Conagra Brands Inc (NYSE CAG) opened at $36.77 on Wednesday. The stock has a market capitalization of $14,730.00, a PE ratio of 21.89, a P/E/G ratio of 2.77 and a beta of 0.37. Conagra Brands Inc has a fifty-two week low of $32.16 and a fifty-two week high of $41.68. The company has a current ratio of 1.11, a quick ratio of 0.54 and a debt-to-equity ratio of 0.86.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The firm had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. Conagra Brands’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.49 earnings per share. analysts anticipate that Conagra Brands Inc will post 1.89 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be paid a $0.213 dividend. The ex-dividend date of this dividend is Monday, January 29th. This represents a $0.85 dividend on an annualized basis and a yield of 2.32%. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. Conagra Brands’s dividend payout ratio (DPR) is currently 50.60%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Synovus Financial Corp increased its stake in Conagra Brands by 52.9% in the 3rd quarter. Synovus Financial Corp now owns 13,585 shares of the company’s stock worth $458,000 after purchasing an additional 4,701 shares in the last quarter. Keeley Teton Advisors LLC increased its stake in Conagra Brands by 21.4% in the 3rd quarter. Keeley Teton Advisors LLC now owns 62,218 shares of the company’s stock worth $2,099,000 after purchasing an additional 10,967 shares in the last quarter. Victory Capital Management Inc. boosted its position in Conagra Brands by 482.0% during the 3rd quarter. Victory Capital Management Inc. now owns 289,392 shares of the company’s stock worth $9,764,000 after acquiring an additional 239,667 shares during the period. Norinchukin Bank The boosted its position in Conagra Brands by 10.3% during the 3rd quarter. Norinchukin Bank The now owns 30,938 shares of the company’s stock worth $1,044,000 after acquiring an additional 2,886 shares during the period. Finally, Sei Investments Co. boosted its position in Conagra Brands by 33.4% during the 3rd quarter. Sei Investments Co. now owns 203,639 shares of the company’s stock worth $6,870,000 after acquiring an additional 50,960 shares during the period. 80.42% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on CAG shares. Royal Bank of Canada restated a “buy” rating and set a $45.00 price objective on shares of Conagra Brands in a research note on Friday, September 29th. Stifel Nicolaus raised their price objective on Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, December 22nd. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research note on Wednesday, November 22nd. Jefferies Group reiterated a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. Finally, Credit Suisse Group set a $40.00 target price on Conagra Brands and gave the company a “hold” rating in a research note on Monday, December 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $40.95.
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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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