Conagra Brands Inc (NYSE:CAG) SVP Robert G. Wise sold 23,170 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $37.87, for a total transaction of $877,447.90. Following the transaction, the senior vice president now directly owns 51,859 shares of the company’s stock, valued at $1,963,900.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Conagra Brands Inc (NYSE CAG) traded down $0.39 during mid-day trading on Thursday, reaching $37.61. 2,634,355 shares of the company’s stock were exchanged, compared to its average volume of 3,285,352. Conagra Brands Inc has a twelve month low of $32.16 and a twelve month high of $41.68. The stock has a market capitalization of $15,210.00, a PE ratio of 22.39, a P/E/G ratio of 2.47 and a beta of 0.37. 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 announced its earnings results on Thursday, December 21st. The company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The business had revenue of $2.17 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was up 4.1% on a year-over-year basis. sell-side analysts predict that Conagra Brands Inc will post 1.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s dividend payout ratio is presently 50.60%.
Several research analysts have recently weighed in on the stock. UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $33.00 to $37.00 in a report on Tuesday, December 12th. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, November 22nd. Stifel Nicolaus boosted their price objective on shares of Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a report on Saturday, December 30th. Credit Suisse Group set a $40.00 price objective on shares of Conagra Brands and gave the company a “hold” rating in a report on Monday, December 25th. Finally, Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.00.
Several institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. boosted its position 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 worth $402,810,000 after purchasing an additional 4,660,867 shares during the period. Janus Henderson Group PLC boosted its position in shares of Conagra Brands by 10,072.6% in the second quarter. Janus Henderson Group PLC now owns 6,144,061 shares of the company’s stock worth $219,711,000 after purchasing an additional 6,083,663 shares during the period. Valueinvest Asset Management S.A. boosted its position in shares of Conagra Brands by 15.7% in the third quarter. Valueinvest Asset Management S.A. now owns 4,591,150 shares of the company’s stock worth $154,905,000 after purchasing an additional 621,600 shares during the period. Jennison Associates LLC boosted its position in shares of Conagra Brands by 1.4% in the fourth quarter. Jennison Associates LLC now owns 3,604,098 shares of the company’s stock worth $135,766,000 after purchasing an additional 50,034 shares during the period. Finally, AJO LP boosted its position in shares of Conagra Brands by 757.3% in the second quarter. AJO LP now owns 3,118,724 shares of the company’s stock worth $111,526,000 after purchasing an additional 2,754,930 shares during the period. Institutional investors and hedge funds own 80.25% of the company’s stock.
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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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