Allianz Asset Management GmbH Purchases 86,313 Shares of Conagra Brands Inc. (CAG)
Allianz Asset Management GmbH raised its position in Conagra Brands Inc. (NYSE:CAG) by 19.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 533,011 shares of the company’s stock after buying an additional 86,313 shares during the quarter. Allianz Asset Management GmbH owned about 0.13% of Conagra Brands worth $17,984,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sun Life Financial INC increased its stake in Conagra Brands by 32,666.7% in the 2nd quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock valued at $105,000 after buying an additional 2,940 shares during the period. Bronfman E.L. Rothschild L.P. increased its stake 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 valued at $112,000 after buying an additional 1,851 shares during the period. Advisors Asset Management Inc. increased its stake in Conagra Brands by 57.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $168,000 after buying an additional 1,705 shares during the period. Krilogy Financial LLC increased its stake in Conagra Brands by 7.7% in the 2nd quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after buying an additional 370 shares during the period. Finally, Evercore Wealth Management LLC increased its stake in Conagra Brands by 12.9% in the 2nd quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock valued at $226,000 after buying an additional 725 shares during the period. 79.03% of the stock is currently owned by institutional investors.
CAG has been the topic of a number of recent analyst reports. UBS raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and upped their price target for the stock from $33.00 to $37.00 in a research note on Tuesday. Royal Bank of Canada reaffirmed a “buy” rating and set a $45.00 price target on shares of Conagra Brands in a research note on Friday, September 29th. Morgan Stanley lowered their price target on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, September 25th. Jefferies Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Conagra Brands in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Conagra Brands presently has an average rating of “Buy” and an average price target of $40.37.
Shares of Conagra Brands Inc. (NYSE:CAG) opened at $37.55 on Wednesday. Conagra Brands Inc. has a 1 year low of $32.16 and a 1 year high of $41.68. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 0.71. The company has a market cap of $15,212.47, a PE ratio of 20.69, a P/E/G ratio of 2.81 and a beta of 0.37.
Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the firm earned $0.37 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. analysts anticipate that Conagra Brands Inc. will post 1.89 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be given a $0.213 dividend. The ex-dividend date is Monday, January 29th. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 annualized dividend and a dividend yield of 2.27%. Conagra Brands’s payout ratio is currently 60.28%.
In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of the company’s stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $34.28, for a total value of $4,589,029.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by insiders.
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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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