Chicago Equity Partners LLC Purchases 21,130 Shares of Conagra Brands Inc. (CAG)
Chicago Equity Partners LLC boosted its position in Conagra Brands Inc. (NYSE:CAG) by 10.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 226,010 shares of the company’s stock after purchasing an additional 21,130 shares during the quarter. Chicago Equity Partners LLC owned about 0.06% of Conagra Brands worth $7,626,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in CAG. IndexIQ Advisors LLC raised its holdings in shares of Conagra Brands by 0.4% during the 2nd quarter. IndexIQ Advisors LLC now owns 9,828 shares of the company’s stock worth $352,000 after buying an additional 36 shares in the last quarter. Conning Inc. increased its holdings in Conagra Brands by 0.6% in the 2nd quarter. Conning Inc. now owns 11,616 shares of the company’s stock worth $415,000 after purchasing an additional 70 shares in the last quarter. Home Federal Bank of Tennessee increased its holdings in Conagra Brands by 1.5% in the 2nd quarter. Home Federal Bank of Tennessee now owns 10,185 shares of the company’s stock worth $365,000 after purchasing an additional 155 shares in the last quarter. Synovus Financial Corp increased its holdings in Conagra Brands by 1.8% in the 2nd quarter. Synovus Financial Corp now owns 8,884 shares of the company’s stock worth $318,000 after purchasing an additional 155 shares in the last quarter. Finally, Alpha Windward LLC grew its position in shares of Conagra Brands by 5.8% in the 2nd quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock valued at $128,000 after buying an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 79.82% of the company’s stock.
In related news, EVP Colleen Batcheler sold 133,869 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $34.28, for a total value of $4,589,029.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.79% of the company’s stock.
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CAG has been the topic of several research analyst reports. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Stifel Nicolaus upgraded Conagra Brands from a “hold” rating to a “buy” rating and upped their target price for the company from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 price target on shares of Conagra Brands in a report on Friday, September 29th. Morgan Stanley cut their price target on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, September 25th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $39.00 price target on shares of Conagra Brands in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $40.03.
Conagra Brands Inc. (NYSE CAG) traded up $0.04 on Tuesday, hitting $33.36. The stock had a trading volume of 10,021 shares, compared to its average volume of 3,117,441. Conagra Brands Inc. has a 1 year low of $32.16 and a 1 year high of $48.86. The stock has a market capitalization of $13,852.17, a P/E ratio of 18.84, a P/E/G ratio of 2.56 and a beta of 0.32. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 1.03.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The company had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the business earned $0.37 EPS. Conagra Brands’s revenue was down 4.8% compared to the same quarter last year. analysts expect that Conagra Brands Inc. will post 1.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, October 13th will be given a $0.2125 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.55%. Conagra Brands’s dividend payout ratio is currently 60.28%.
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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