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.
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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.
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