Gabelli Funds LLC lifted its stake in shares of Conagra Brands Inc (NYSE:CAG) by 0.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,178,100 shares of the company’s stock after acquiring an additional 2,000 shares during the period. Gabelli Funds LLC’s holdings in Conagra Brands were worth $40,020,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in CAG. Fort L.P. purchased a new position in shares of Conagra Brands during the 2nd quarter worth about $117,000. JNBA Financial Advisors lifted its holdings in shares of Conagra Brands by 761.4% during the 3rd quarter. JNBA Financial Advisors now owns 4,393 shares of the company’s stock worth $149,000 after acquiring an additional 3,883 shares during the period. Bray Capital Advisors purchased a new position in shares of Conagra Brands during the 3rd quarter worth about $170,000. LFA Lugano Financial Advisors SA lifted its holdings in shares of Conagra Brands by 137.6% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock worth $175,000 after acquiring an additional 2,984 shares during the period. Finally, Lucia Wealth Services LLC purchased a new position in shares of Conagra Brands during the 2nd quarter worth about $184,000. Institutional investors and hedge funds own 81.97% of the company’s stock.
NYSE CAG opened at $35.06 on Wednesday. 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. The company has a market capitalization of $13.71 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 2.03 and a beta of 0.17.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results 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). Conagra Brands had a net margin of 10.47% and a return on equity of 22.50%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the business posted $0.46 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts predict that Conagra Brands Inc will post 2.15 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, October 17th will be given a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, October 16th. Conagra Brands’s dividend payout ratio (DPR) is 40.28%.
In other news, insider Sean Connolly acquired 14,184 shares of the stock in a transaction on Friday, October 12th. The stock was bought at an average price of $35.25 per share, with a total value of $499,986.00. Following the completion of the transaction, the insider now directly owns 217,607 shares of the company’s stock, valued at $7,670,646.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David S. Marberger acquired 2,836 shares of the stock in a transaction on Friday, October 12th. The stock was purchased at an average cost of $35.25 per share, with a total value of $99,969.00. Following the transaction, the chief financial officer now directly owns 12,721 shares of the company’s stock, valued at $448,415.25. The disclosure for this purchase can be found here. Insiders acquired 24,112 shares of company stock valued at $849,948 in the last ninety days. 0.92% of the stock is owned by corporate insiders.
CAG has been the topic of several research reports. UBS Group upgraded shares of Conagra Brands from a “neutral” rating to a “buy” rating and raised their price target for the company from $38.00 to $40.00 in a report on Monday, October 8th. 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 lowered shares of Conagra Brands from a “buy” rating to a “sell” rating in a report on Wednesday, September 26th. ValuEngine upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Monday, October 8th. Finally, Credit Suisse Group initiated coverage on shares of Conagra Brands in a report on Wednesday, October 31st. They issued a “neutral” rating and a $40.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Conagra Brands presently has a consensus rating of “Buy” and a consensus target price of $42.70.
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Conagra Brands 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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