Gamco Investors INC. ET AL grew its position in shares of Conagra Brands Inc (NYSE:CAG) by 17.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,387,761 shares of the company’s stock after buying an additional 201,347 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Conagra Brands were worth $47,142,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Fort L.P. purchased a new stake in shares of Conagra Brands during the second quarter valued at approximately $117,000. JNBA Financial Advisors grew its holdings in shares of Conagra Brands by 761.4% during the third quarter. JNBA Financial Advisors now owns 4,393 shares of the company’s stock valued at $149,000 after buying an additional 3,883 shares during the last quarter. Bray Capital Advisors purchased a new stake in shares of Conagra Brands during the third quarter valued at approximately $170,000. LFA Lugano Financial Advisors SA grew its holdings in shares of Conagra Brands by 137.6% during the third 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 during the last quarter. Finally, Lucia Wealth Services LLC purchased a new stake in shares of Conagra Brands during the second quarter valued at approximately $184,000. Hedge funds and other institutional investors own 81.97% of the company’s stock.
Shares of CAG stock opened at $35.00 on Tuesday. The firm has a market cap of $13.71 billion, a PE ratio of 16.43, a PEG ratio of 2.03 and a beta of 0.17. Conagra Brands Inc has a one year low of $32.81 and a one year high of $39.43. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.39 and a current ratio of 0.84.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, September 27th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.85 billion. Conagra Brands had a net margin of 10.47% and a return on equity of 22.50%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 earnings per share. On average, equities analysts forecast that Conagra Brands Inc will post 2.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, October 17th will be issued a $0.2125 dividend. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.85 dividend on an annualized basis and a yield of 2.43%. Conagra Brands’s dividend payout ratio is currently 40.28%.
CAG has been the topic of a number of recent analyst reports. Jefferies Financial Group set a $44.00 price target on shares of Conagra Brands and gave the company a “buy” rating in a report on Thursday, September 27th. Zacks Investment Research cut shares of Conagra Brands from a “buy” rating to a “sell” rating in a report on Wednesday, September 26th. Goldman Sachs Group restated a “buy” rating and issued a $42.00 target price on shares of Conagra Brands in a report on Wednesday, October 24th. ValuEngine upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Finally, UBS Group upgraded shares of Conagra Brands from a “neutral” rating to a “buy” rating and raised their target price for the stock from $38.00 to $40.00 in a report on Monday, October 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $42.70.
In related news, insider Sean Connolly purchased 14,184 shares of Conagra Brands stock in a transaction on Friday, October 12th. The shares were bought at an average cost of $35.25 per share, for a total transaction of $499,986.00. Following the acquisition, the insider now owns 217,607 shares in the company, valued at approximately $7,670,646.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David S. Marberger purchased 2,836 shares of Conagra Brands stock in a transaction on Friday, October 12th. The stock was bought at an average price of $35.25 per share, for a total transaction of $99,969.00. Following the completion of the acquisition, the chief financial officer now owns 12,721 shares in the company, valued at approximately $448,415.25. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 24,112 shares of company stock worth $849,948. 0.92% of the stock is currently owned by insiders.
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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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