Conagra Brands Inc. (CAG) Shares Sold by Stifel Financial Corp
Stifel Financial Corp decreased its stake in shares of Conagra Brands Inc. (NYSE:CAG) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,574 shares of the company’s stock after selling 6,392 shares during the period. Stifel Financial Corp’s holdings in Conagra Brands were worth $2,818,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC boosted its position in shares of Conagra Brands by 7.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 100,470 shares of the company’s stock valued at $3,593,000 after purchasing an additional 7,000 shares in the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of Conagra Brands by 1.2% in the second quarter. State of Tennessee Treasury Department now owns 1,360,161 shares of the company’s stock worth $48,640,000 after buying an additional 16,143 shares during the period. Alethea Capital Management LLC acquired a new position in shares of Conagra Brands in the second quarter worth about $3,610,000. Victory Capital Management Inc. boosted its holdings in shares of Conagra Brands by 482.0% in the third quarter. Victory Capital Management Inc. now owns 289,392 shares of the company’s stock worth $9,764,000 after buying an additional 239,667 shares during the period. Finally, Norinchukin Bank The boosted its holdings in shares of Conagra Brands by 10.3% in the third quarter. Norinchukin Bank The now owns 30,938 shares of the company’s stock worth $1,044,000 after buying an additional 2,886 shares during the period. 78.88% of the stock is currently owned by hedge funds and other institutional investors.
CAG has been the subject of several recent analyst reports. Sanford C. Bernstein upgraded shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. BidaskClub cut shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Royal Bank of Canada reiterated a “buy” rating and issued a $45.00 target price on shares of Conagra Brands in a report on Friday, September 29th. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Jefferies Group restated a “buy” rating and set a $40.00 price target on shares of Conagra Brands in a report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Conagra Brands currently has an average rating of “Buy” and an average price target of $40.37.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.40 by $0.06. The business had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.37 earnings per share. analysts anticipate that Conagra Brands Inc. will post 1.9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be issued a dividend of $0.213 per share. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Monday, January 29th. Conagra Brands’s dividend payout ratio (DPR) is currently 60.28%.
In related news, EVP Colleen Batcheler sold 120,451 shares of the firm’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 transaction, the executive vice president now owns 211,514 shares of the company’s stock, valued at $7,931,775. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.79% of the stock is currently owned by company insiders.
Conagra Brands Company 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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