Conagra Brands Inc. (CAG) Holdings Raised by Advisor Group Inc.
Advisor Group Inc. raised its stake in shares of Conagra Brands Inc. (NYSE:CAG) by 32.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,268 shares of the company’s stock after acquiring an additional 4,915 shares during the period. Advisor Group Inc.’s holdings in Conagra Brands were worth $685,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Sun Life Financial INC boosted its stake in shares of Conagra Brands by 32,666.7% in the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock valued at $105,000 after purchasing an additional 2,940 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Conagra Brands by 143.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock valued at $112,000 after purchasing an additional 1,851 shares during the period. JFS Wealth Advisors LLC purchased a new position in shares of Conagra Brands in the second quarter valued at approximately $156,000. Advisors Asset Management Inc. boosted its stake in shares of Conagra Brands by 57.1% in the second quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $168,000 after purchasing an additional 1,705 shares during the period. Finally, Krilogy Financial LLC boosted its stake in shares of Conagra Brands by 7.7% in the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 78.82% of the company’s stock.
In other news, EVP Colleen Batcheler sold 133,869 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $34.28, for a total transaction of $4,589,029.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.79% of the stock is owned by insiders.
CAG has been the subject of several recent research reports. Royal Bank Of Canada reissued a “buy” rating and issued a $45.00 price objective on shares of Conagra Brands in a research note on Friday, September 29th. 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. 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. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Conagra Brands in a research note on Tuesday, October 3rd. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $39.00 price target on shares of Conagra Brands in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.03.
Conagra Brands Inc. (CAG) opened at $35.51 on Friday. Conagra Brands Inc. has a 12 month low of $32.16 and a 12 month 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 stock has a market cap of $14,505.77, a P/E ratio of 19.73, a P/E/G ratio of 2.68 and a beta of 0.32.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.06. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. equities research analysts forecast that Conagra Brands Inc. will post 1.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 13th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a yield of 2.39%. Conagra Brands’s dividend payout ratio is currently 60.28%.
About Conagra Brands
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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