Conagra Brands Inc (NYSE:CAG) insider Sean Connolly bought 14,184 shares of the business’s stock in a transaction dated Friday, October 12th. The stock was acquired at an average price of $35.25 per share, for a total transaction of $499,986.00. Following the purchase, the insider now directly owns 217,607 shares in the company, valued at $7,670,646.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of NYSE:CAG traded up $0.47 during mid-day trading on Friday, reaching $35.34. The company had a trading volume of 5,946,874 shares, compared to its average volume of 4,188,130. The company has a current ratio of 0.84, a quick ratio of 0.39 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $13.30 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.92 and a beta of 0.31. Conagra Brands Inc has a one year low of $32.81 and a one year high of $39.43.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 27th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.46 EPS. Research analysts predict that Conagra Brands Inc will post 2.21 earnings per share 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 issued a $0.2125 dividend. The ex-dividend date is Tuesday, October 16th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.41%. Conagra Brands’s dividend payout ratio (DPR) is presently 40.28%.
Large investors have recently bought and sold shares of the stock. Caption Management LLC bought a new stake in shares of Conagra Brands in the 2nd quarter worth approximately $357,000. Putnam Investments LLC raised its holdings in Conagra Brands by 4.7% during the 2nd quarter. Putnam Investments LLC now owns 411,293 shares of the company’s stock valued at $14,695,000 after acquiring an additional 18,618 shares during the period. Piedmont Investment Advisors LLC raised its holdings in Conagra Brands by 16.1% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 133,333 shares of the company’s stock valued at $4,764,000 after acquiring an additional 18,524 shares during the period. Great West Life Assurance Co. Can raised its holdings in Conagra Brands by 15.0% during the 2nd quarter. Great West Life Assurance Co. Can now owns 455,083 shares of the company’s stock valued at $16,263,000 after acquiring an additional 59,276 shares during the period. Finally, Zacks Investment Management bought a new stake in Conagra Brands during the 2nd quarter valued at $203,000. 81.48% of the stock is currently owned by institutional investors.
A number of equities analysts have recently weighed in on CAG shares. Zacks Investment Research downgraded Conagra Brands from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Citigroup cut their target price on Conagra Brands from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, June 28th. ValuEngine downgraded Conagra Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. JPMorgan Chase & Co. boosted their target price on Conagra Brands from $43.00 to $45.00 and gave the stock an “overweight” rating in a research note on Friday, July 27th. Finally, Stephens initiated coverage on shares of Conagra Brands in a report on Monday, August 20th. They issued an “overweight” rating and a $45.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Conagra Brands has an average rating of “Buy” and an average target price of $42.78.
Conagra Brands Company Profile
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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