Conagra Brands Inc. (CAG) Position Maintained by Schafer Cullen Capital Management Inc.
Schafer Cullen Capital Management Inc. continued to hold its stake in Conagra Brands Inc. (NYSE:CAG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,475 shares of the company’s stock at the close of the 2nd quarter. Schafer Cullen Capital Management Inc.’s holdings in Conagra Brands were worth $1,197,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Koch Industries Inc. grew its holdings in shares of Conagra Brands by 6,018.5% during the 2nd quarter. Koch Industries Inc. now owns 338,045 shares of the company’s stock worth $329,000 after purchasing an additional 332,520 shares during the period. Verition Fund Management LLC grew its holdings in shares of Conagra Brands by 204.8% during the 2nd quarter. Verition Fund Management LLC now owns 17,385 shares of the company’s stock worth $622,000 after purchasing an additional 11,681 shares during the period. Krilogy Financial LLC grew its holdings in shares of Conagra Brands by 7.7% during the 2nd quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock worth $185,000 after purchasing an additional 370 shares during the period. Financial Partners Capital Management LLC grew its holdings in shares of Conagra Brands by 14.3% during the 2nd quarter. Financial Partners Capital Management LLC now owns 30,483 shares of the company’s stock worth $1,090,000 after purchasing an additional 3,809 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of Conagra Brands by 8.1% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 135,971 shares of the company’s stock worth $4,863,000 after purchasing an additional 10,132 shares during the period. Institutional investors and hedge funds own 79.75% of the company’s stock.
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Conagra Brands Inc. (CAG) traded down 0.75% during trading on Friday, reaching $34.33. The company’s stock had a trading volume of 4,692,253 shares. Conagra Brands Inc. has a 52-week low of $32.16 and a 52-week high of $41.68. The stock’s 50-day moving average is $33.79 and its 200 day moving average is $36.29. The firm has a market capitalization of $14.02 billion, a price-to-earnings ratio of 24.68 and a beta of 0.31.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The company’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. On average, analysts predict that Conagra Brands Inc. will post $1.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, October 13th will be issued a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Monday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is currently 60.28%.
Conagra Brands announced that its board has initiated a share buyback plan on Thursday, June 29th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
A number of brokerages have recently issued reports on CAG. UBS AG reiterated a “sell” rating and set a $33.00 target price (down previously from $35.00) on shares of Conagra Brands in a report on Friday, June 30th. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $40.00 target price on shares of Conagra Brands in a report on Tuesday, October 3rd. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Finally, Credit Suisse Group set a $39.00 target price on Conagra Brands and gave the stock a “hold” rating in a report on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $41.31.
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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