Raymond James Trust N.A. cut its position in shares of Conagra Brands Inc (NYSE:CAG) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,982 shares of the company’s stock after selling 3,159 shares during the period. Raymond James Trust N.A.’s holdings in Conagra Brands were worth $1,092,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CAG. 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 during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Conagra Brands by 5.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 17,268 shares of the company’s stock worth $618,000 after buying an additional 928 shares during the period. Advisor Partners LLC boosted its holdings in shares of Conagra Brands by 11.7% during the 4th quarter. Advisor Partners LLC now owns 13,388 shares of the company’s stock worth $506,000 after buying an additional 1,399 shares during the period. Commonwealth Equity Services Inc boosted its holdings in shares of Conagra Brands by 2.2% during the 3rd quarter. Commonwealth Equity Services Inc now owns 70,357 shares of the company’s stock worth $2,373,000 after buying an additional 1,482 shares during the period. Finally, Captrust Financial Advisors grew its stake in Conagra Brands by 7.0% in the 3rd quarter. Captrust Financial Advisors now owns 23,744 shares of the company’s stock valued at $801,000 after buying an additional 1,556 shares during the last quarter. Institutional investors own 79.61% of the company’s stock.
CAG has been the subject of several research reports. UBS Group upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $33.00 to $37.00 in a research report on Tuesday, December 12th. 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. Stifel Nicolaus lifted their price target on Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Saturday, December 30th. Credit Suisse Group set a $40.00 price objective on Conagra Brands and gave the company a “hold” rating in a report on Monday, December 25th. Finally, Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $41.00.
Conagra Brands Inc (NYSE CAG) traded up $0.05 during trading on Wednesday, reaching $35.52. The company’s stock had a trading volume of 3,929,488 shares, compared to its average volume of 3,675,332. The company has a market cap of $14,303.59, a price-to-earnings ratio of 21.24, a PEG ratio of 2.33 and a beta of 0.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.54 and a current ratio of 1.11. Conagra Brands Inc has a 12-month low of $32.16 and a 12-month high of $41.68.
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 the consensus estimate of $0.52 by $0.03. The company 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 quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. equities analysts expect that Conagra Brands Inc will post 1.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, January 30th will be issued 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 yield of 2.40%. The ex-dividend date is Monday, January 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 50.90%.
In other Conagra Brands news, Director Joie A. Gregor sold 5,250 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Colleen Batcheler sold 120,451 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was 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 directly owns 211,514 shares of the company’s stock, valued at approximately $7,931,775. The disclosure for this sale can be found here. Over the last three months, insiders sold 154,121 shares of company stock worth $5,793,780. Insiders own 0.79% of the company’s stock.
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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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