Old Mutual Global Investors UK Ltd. Buys Shares of 18,456 Conagra Brands Inc (CAG)

Old Mutual Global Investors UK Ltd. bought a new stake in shares of Conagra Brands Inc (NYSE:CAG) in the 4th quarter, HoldingsChannel.com reports. The fund bought 18,456 shares of the company’s stock, valued at approximately $695,000.

Other institutional investors have also made changes to their positions in the company. Synovus Financial Corp grew its stake in shares of Conagra Brands by 52.9% during the third quarter. Synovus Financial Corp now owns 13,585 shares of the company’s stock valued at $458,000 after acquiring an additional 4,701 shares in the last quarter. Keeley Teton Advisors LLC grew its stake in shares of Conagra Brands by 21.4% during the third quarter. Keeley Teton Advisors LLC now owns 62,218 shares of the company’s stock valued at $2,099,000 after acquiring an additional 10,967 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Conagra Brands by 482.0% during the third quarter. Victory Capital Management Inc. now owns 289,392 shares of the company’s stock valued at $9,764,000 after acquiring an additional 239,667 shares in the last quarter. Norinchukin Bank The grew its stake in shares of Conagra Brands by 10.3% during the third quarter. Norinchukin Bank The now owns 30,938 shares of the company’s stock valued at $1,044,000 after acquiring an additional 2,886 shares in the last quarter. Finally, WINTON GROUP Ltd grew its stake in shares of Conagra Brands by 71.4% during the third quarter. WINTON GROUP Ltd now owns 35,735 shares of the company’s stock valued at $1,206,000 after acquiring an additional 14,887 shares in the last quarter. Institutional investors own 79.61% of the company’s stock.

Conagra Brands Inc (CAG) opened at $36.25 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.54 and a current ratio of 1.11. Conagra Brands Inc has a 12-month low of $32.16 and a 12-month high of $41.68. The company has a market cap of $14,523.96, a PE ratio of 19.49, a PEG ratio of 2.35 and a beta of 0.27.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 21st. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the company posted $0.49 earnings per share. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. research analysts forecast that Conagra Brands Inc will post 1.93 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be given a dividend of $0.213 per share. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. This represents a $0.85 annualized dividend and a dividend yield of 2.35%. Conagra Brands’s dividend payout ratio (DPR) is presently 50.90%.

In other news, Director Joie A. Gregor sold 5,250 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $38.04, for a total transaction of $199,710.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Colleen Batcheler sold 120,451 shares of the 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 transaction, the executive vice president now directly owns 211,514 shares in the company, valued at approximately $7,931,775. The disclosure for this sale can be found here. Insiders have sold 154,121 shares of company stock worth $5,793,780 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.

Several analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Saturday, December 30th. Credit Suisse Group set a $40.00 target price on Conagra Brands and gave the company a “hold” rating in a research note on Monday, December 25th. Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. UBS Group upgraded Conagra Brands from a “sell” rating to a “neutral” rating and raised their target price for the company from $33.00 to $37.00 in a research note on Tuesday, December 12th. Finally, Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $40.50.

ILLEGAL ACTIVITY WARNING: This news story was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright law. The legal version of this news story can be read at https://ledgergazette.com/2018/02/18/old-mutual-global-investors-uk-ltd-buys-shares-of-18456-conagra-brands-inc-cag.html.

Conagra Brands Company 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.

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands Inc (NYSE:CAG).

Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply