Sompo Japan Nipponkoa Asset Management CO. LTD. lifted its position in Conagra Brands Inc (NYSE:CAG) by 1.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 116,460 shares of the company’s stock after buying an additional 1,460 shares during the period. Sompo Japan Nipponkoa Asset Management CO. LTD.’s holdings in Conagra Brands were worth $3,089,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Conagra Brands by 20.9% during the first quarter. BlackRock Inc. now owns 43,165,563 shares of the company’s stock valued at $1,197,414,000 after purchasing an additional 7,469,653 shares during the last quarter. FMR LLC raised its holdings in shares of Conagra Brands by 27.2% during the first quarter. FMR LLC now owns 14,183,529 shares of the company’s stock valued at $393,451,000 after purchasing an additional 3,031,757 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Conagra Brands by 116,755.7% during the first quarter. Clearbridge Investments LLC now owns 2,103,402 shares of the company’s stock valued at $58,348,000 after purchasing an additional 2,101,602 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Conagra Brands by 36.8% during the fourth quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock valued at $146,052,000 after purchasing an additional 1,840,875 shares during the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Conagra Brands during the first quarter valued at approximately $41,720,000. Hedge funds and other institutional investors own 88.13% of the company’s stock.
CAG stock traded up $0.62 during midday trading on Friday, reaching $29.47. 2,488,100 shares of the company’s stock traded hands, compared to its average volume of 4,075,198. Conagra Brands Inc has a 52-week low of $20.22 and a 52-week high of $38.43. The stock has a market cap of $13.66 billion, a P/E ratio of 14.66, a PEG ratio of 1.90 and a beta of 0.86. The company has a current ratio of 1.28, a quick ratio of 0.54 and a debt-to-equity ratio of 1.43. The stock’s 50-day moving average is $28.26 and its 200 day moving average is $27.28.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, June 27th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The business had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the company posted $0.50 earnings per share. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. As a group, research analysts expect that Conagra Brands Inc will post 2.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Tuesday, July 30th will be issued a dividend of $0.2125 per share. The ex-dividend date is Monday, July 29th. This represents a $0.85 dividend on an annualized basis and a yield of 2.88%. Conagra Brands’s dividend payout ratio is currently 42.29%.
Several research analysts have recently weighed in on CAG shares. Citigroup decreased their price objective on shares of Conagra Brands from $36.00 to $34.00 and set a “buy” rating for the company in a report on Friday, June 28th. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price objective for the company in a report on Monday, July 8th. SunTrust Banks started coverage on shares of Conagra Brands in a report on Tuesday, May 14th. They set a “buy” rating and a $35.00 price objective for the company. Morgan Stanley started coverage on shares of Conagra Brands in a report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price objective for the company. Finally, UBS Group set a $32.00 price objective on shares of Conagra Brands and gave the company a “buy” rating in a report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $34.42.
In other news, Director Craig P. Omtvedt acquired 25,000 shares of Conagra Brands stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $26.73 per share, with a total value of $668,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ruth Ann Marshall sold 2,436 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $29.11, for a total transaction of $70,911.96. Following the completion of the sale, the director now directly owns 101,823 shares of the company’s stock, valued at $2,964,067.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,589 shares of company stock valued at $929,334. 0.92% of the stock is owned by corporate insiders.
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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