Conagra Brands Inc (NYSE:CAG) Director Thomas K. Brown bought 7,092 shares of the stock in a transaction on Friday, October 12th. The stock was acquired at an average cost of $35.25 per share, for a total transaction of $249,993.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of NYSE:CAG traded up $0.47 during trading on Friday, hitting $35.34. 5,946,874 shares of the stock were exchanged, compared to its average volume of 4,188,130. Conagra Brands Inc has a 1-year low of $32.81 and a 1-year high of $39.43. The firm has a market capitalization of $13.30 billion, a PE ratio of 16.75, a PEG ratio of 1.92 and a beta of 0.31. The company has a current ratio of 0.84, a quick ratio of 0.39 and a debt-to-equity ratio of 0.85.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the business posted $0.46 EPS. Conagra Brands’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands Inc will post 2.21 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 17th will be paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.41%. The ex-dividend date is Tuesday, October 16th. Conagra Brands’s dividend payout ratio is 40.28%.
A number of analysts have issued reports on CAG shares. Jefferies Financial Group set a $44.00 target price on Conagra Brands and gave the company a “buy” rating in a report on Thursday, September 27th. Zacks Investment Research lowered Conagra Brands from a “buy” rating to a “sell” rating in a report on Wednesday, September 26th. UBS Group raised Conagra Brands from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $38.00 to $40.00 in a report on Monday, October 8th. Stephens started coverage on Conagra Brands in a report on Monday, August 20th. They set an “overweight” rating and a $45.00 price objective on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Conagra Brands from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $42.78.
A number of hedge funds have recently made changes to their positions in CAG. Fort L.P. acquired a new stake in Conagra Brands in the 2nd quarter valued at $117,000. LFA Lugano Financial Advisors SA boosted its stake in Conagra Brands by 137.6% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock valued at $175,000 after buying an additional 2,984 shares in the last quarter. Lucia Wealth Services LLC acquired a new stake in Conagra Brands in the 2nd quarter valued at $184,000. Lincoln National Corp acquired a new stake in Conagra Brands in the 2nd quarter valued at $200,000. Finally, Zacks Investment Management acquired a new stake in Conagra Brands in the 2nd quarter valued at $203,000. 81.48% of the stock is currently owned by institutional investors and hedge funds.
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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