Candriam Luxembourg S.C.A. boosted its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 13.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 77,519 shares of the company’s stock after acquiring an additional 9,325 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Conagra Brands were worth $2,920,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CAG. American Century Companies Inc. grew its holdings in Conagra Brands by 64.0% during the 3rd quarter. American Century Companies Inc. now owns 11,938,659 shares of the company’s stock worth $402,810,000 after acquiring an additional 4,660,867 shares during the period. AXA grew its holdings in Conagra Brands by 324.3% during the 3rd quarter. AXA now owns 977,611 shares of the company’s stock worth $32,985,000 after acquiring an additional 747,211 shares during the period. Canada Pension Plan Investment Board grew its holdings in Conagra Brands by 142.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,064,251 shares of the company’s stock worth $35,908,000 after acquiring an additional 625,700 shares during the period. Valueinvest Asset Management S.A. grew its holdings in Conagra Brands by 15.7% during the 3rd quarter. Valueinvest Asset Management S.A. now owns 4,591,150 shares of the company’s stock worth $154,905,000 after acquiring an additional 621,600 shares during the period. Finally, Sit Investment Associates Inc. acquired a new stake in Conagra Brands during the 4th quarter worth $23,392,000. 79.61% of the stock is owned by hedge funds and other institutional investors.
CAG has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, November 22nd. Stifel Nicolaus raised shares of Conagra Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $38.00 in a report on Sunday, October 29th. They noted that the move was a valuation call. Credit Suisse Group set a $40.00 target price on shares of Conagra Brands and gave the stock a “hold” rating in a report on Monday, December 25th. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. Finally, UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $33.00 to $37.00 in a report on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Conagra Brands presently has an average rating of “Buy” and a consensus price target of $40.50.
In other news, SVP Robert G. Wise sold 23,170 shares of Conagra Brands stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Colleen Batcheler sold 120,451 shares of Conagra Brands stock in a transaction on 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 154,121 shares of company stock worth $5,793,780. Insiders own 0.79% of the company’s stock.
Conagra Brands Inc (NYSE:CAG) opened at $36.25 on Monday. The firm has a market cap of $14,523.96, a price-to-earnings ratio of 21.71, a PEG ratio of 2.35 and a beta of 0.27. Conagra Brands Inc has a 52-week low of $32.16 and a 52-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 announced its quarterly earnings results on Thursday, December 21st. The company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.49 earnings per share. research analysts anticipate that Conagra Brands Inc will post 1.93 EPS for the current year.
The company 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 dividend of $0.213 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 50.90%.
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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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