Synovus Financial Corp lifted its holdings in shares of Conagra Brands Inc. (NYSE:CAG) by 52.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,585 shares of the company’s stock after purchasing an additional 4,701 shares during the period. Synovus Financial Corp’s holdings in Conagra Brands were worth $458,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in CAG. Sun Life Financial INC raised its stake in shares of Conagra Brands by 32,666.7% during the 2nd quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after purchasing an additional 2,940 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in Conagra Brands by 143.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after acquiring an additional 1,851 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Conagra Brands by 57.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock worth $168,000 after acquiring an additional 1,705 shares during the last quarter. Krilogy Financial LLC increased its holdings in Conagra Brands by 7.7% in the 2nd quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock worth $185,000 after acquiring an additional 370 shares during the last quarter. Finally, Evercore Wealth Management LLC increased its holdings in Conagra Brands by 12.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock worth $226,000 after acquiring an additional 725 shares during the last quarter. Institutional investors own 79.04% of the company’s stock.
In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of Conagra Brands stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the completion of the transaction, the executive vice president now owns 211,514 shares of the company’s stock, valued at approximately $7,931,775. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.79% of the stock is owned by insiders.
Conagra Brands Inc. (NYSE:CAG) opened at $37.25 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $15,216.55, a PE ratio of 20.69, a price-to-earnings-growth ratio of 2.81 and a beta of 0.37. Conagra Brands Inc. has a twelve month low of $32.16 and a twelve month high of $41.68.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, September 28th. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.37 EPS. equities research analysts expect that Conagra Brands Inc. will post 1.89 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Friday, October 13th were issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Monday, October 30th. Conagra Brands’s payout ratio is presently 60.28%.
Several equities research analysts recently weighed in on the company. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price objective on shares of Conagra Brands in a report on Friday, September 29th. Credit Suisse Group reissued a “hold” rating and issued a $39.00 price objective on shares of Conagra Brands in a report on Friday, August 11th. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Wednesday, November 22nd. BidaskClub raised Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Finally, Stifel Nicolaus raised Conagra Brands from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $38.00 in a report on Sunday, October 29th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $40.03.
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Conagra Brands Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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