Conagra Brands Inc (CAG) Holdings Cut by DnB Asset Management AS
DnB Asset Management AS cut its position in Conagra Brands Inc (NYSE:CAG) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 56,471 shares of the company’s stock after selling 1,700 shares during the period. DnB Asset Management AS’s holdings in Conagra Brands were worth $2,127,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of CAG. Schroder Investment Management Group raised its holdings in Conagra Brands by 65.1% in the second quarter. Schroder Investment Management Group now owns 55,074 shares of the company’s stock worth $1,987,000 after buying an additional 21,706 shares during the last quarter. Franklin Resources Inc. raised its holdings in Conagra Brands by 346.2% in the second quarter. Franklin Resources Inc. now owns 110,996 shares of the company’s stock worth $3,969,000 after buying an additional 86,120 shares during the last quarter. Norinchukin Bank The raised its holdings in Conagra Brands by 4.4% in the second quarter. Norinchukin Bank The now owns 28,052 shares of the company’s stock worth $1,003,000 after buying an additional 1,185 shares during the last quarter. Amalgamated Bank raised its holdings in Conagra Brands by 43.2% in the second quarter. Amalgamated Bank now owns 46,193 shares of the company’s stock worth $1,652,000 after buying an additional 13,935 shares during the last quarter. Finally, BT Investment Management Ltd purchased a new position in Conagra Brands in the second quarter worth about $7,854,000. 78.88% of the stock is owned by institutional investors and hedge funds.
Shares of Conagra Brands Inc (NYSE CAG) opened at $36.71 on Monday. 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 $14,710.00, a P/E ratio of 21.85, a PEG ratio of 2.78 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 1.11 and a debt-to-equity ratio of 0.86.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.03. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.07 billion. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 earnings per share. research analysts anticipate that Conagra Brands Inc will post 1.89 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be given a dividend of $0.213 per share. This represents a $0.85 annualized dividend and a yield of 2.32%. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s payout ratio is 50.60%.
CAG has been the subject of a number of research analyst reports. Credit Suisse Group set a $40.00 price target on shares of Conagra Brands and gave the stock a “hold” rating in a research note on Monday, December 25th. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and lifted their price target for the stock from $36.00 to $38.00 in a research note on Sunday, October 29th. They noted that the move was a valuation call. UBS Group upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $33.00 to $37.00 in a research note on Tuesday, December 12th. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, November 22nd. Finally, Sanford C. Bernstein upgraded shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $40.95.
In related news, Director Joie A. Gregor sold 5,250 shares of the business’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Colleen Batcheler sold 120,451 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the sale, the executive vice president now owns 211,514 shares of the company’s stock, valued at $7,931,775. The disclosure for this sale can be found here. Insiders have sold 154,121 shares of company stock valued at $5,793,780 over the last 90 days. 0.79% of the stock is currently owned by company insiders.
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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