Teacher Retirement System of Texas boosted its stake in Conagra Brands (NYSE:CAG) by 125.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,781 shares of the company’s stock after purchasing an additional 144,148 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Conagra Brands worth $9,544,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Vantage Investment Advisors LLC boosted its stake in shares of Conagra Brands by 625.7% during the 4th quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock worth $113,000 after acquiring an additional 2,578 shares during the last quarter. NuWave Investment Management LLC purchased a new position in shares of Conagra Brands during the 4th quarter worth $114,000. Envestnet Asset Management Inc. boosted its stake in shares of Conagra Brands by 94.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the company’s stock worth $149,000 after acquiring an additional 1,923 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Conagra Brands during the 4th quarter worth $161,000. Finally, Strategic Financial Services Inc purchased a new position in shares of Conagra Brands during the 4th quarter worth $203,000. Institutional investors and hedge funds own 76.71% of the company’s stock.
Conagra Brands opened at $36.97 on Tuesday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.52 and a current ratio of 1.03. Conagra Brands has a fifty-two week low of $32.16 and a fifty-two week high of $40.24. The firm has a market cap of $14.99 billion, a P/E ratio of 21.24, a PEG ratio of 2.28 and a beta of 0.28.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, March 22nd. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the company earned $0.48 EPS. Conagra Brands’s revenue for the quarter was up .7% on a year-over-year basis. equities analysts expect that Conagra Brands will post 2.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Monday, April 30th will be paid a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, April 27th. Conagra Brands’s dividend payout ratio (DPR) is 48.85%.
In related news, Director Stephen G. Butler sold 12,092 shares of Conagra Brands stock in a transaction on Friday, April 6th. The shares were sold at an average price of $37.18, for a total transaction of $449,580.56. Following the transaction, the director now owns 127,755 shares in the company, valued at approximately $4,749,930.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ruth Ann Marshall sold 6,046 shares of Conagra Brands stock in a transaction on Monday, March 26th. The shares were sold at an average price of $35.86, for a total transaction of $216,809.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,046 shares of company stock worth $885,695. 0.79% of the stock is owned by corporate insiders.
Several brokerages have recently weighed in on CAG. UBS lifted their price target on shares of Conagra Brands from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, March 23rd. Zacks Investment Research cut shares of Conagra Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. JPMorgan Chase dropped their price target on shares of Conagra Brands from $44.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, March 23rd. Jefferies Group reiterated a “buy” rating and set a $44.00 price target on shares of Conagra Brands in a research note on Thursday, March 22nd. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $46.00 price target on shares of Conagra Brands in a research note on Friday, March 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $41.67.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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