Conagra Brands Inc. (CAG) Shares Sold by Swiss National Bank
Swiss National Bank lowered its holdings in shares of Conagra Brands Inc. (NYSE:CAG) by 0.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,783,219 shares of the company’s stock after selling 13,100 shares during the period. Swiss National Bank owned about 436,528.52% of Conagra Brands worth $60,166,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. 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. raised its holdings in shares of Conagra Brands by 0.6% during the 2nd quarter. Conning Inc. now owns 11,616 shares of the company’s stock worth $415,000 after buying an additional 70 shares in the last quarter. Home Federal Bank of Tennessee raised its holdings in shares of Conagra Brands by 1.5% during the 2nd quarter. Home Federal Bank of Tennessee now owns 10,185 shares of the company’s stock worth $365,000 after buying an additional 155 shares in the last quarter. Synovus Financial Corp raised its holdings in shares of Conagra Brands by 1.8% during the 2nd quarter. Synovus Financial Corp now owns 8,884 shares of the company’s stock worth $318,000 after buying an additional 155 shares in the last quarter. Finally, Alpha Windward LLC raised its holdings in shares of Conagra Brands by 5.8% during the 2nd quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock worth $128,000 after buying an additional 196 shares in the last quarter. 79.33% of the stock is owned by institutional investors.
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A number of brokerages recently weighed in on CAG. Royal Bank Of Canada restated a “buy” rating and set a $45.00 price objective on shares of Conagra Brands in a research report on Friday, September 29th. Credit Suisse Group restated a “hold” rating and set a $39.00 price objective on shares of Conagra Brands in a research report on Friday, August 11th. 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 boosted their price objective for the stock from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price target on shares of Conagra Brands in a research report on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $40.03.
Conagra Brands Inc. (NYSE CAG) opened at $34.87 on Monday. Conagra Brands Inc. has a 52 week low of $32.16 and a 52 week high of $41.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 1.03. The firm has a market capitalization of $14,215.73, a P/E ratio of 19.33, a P/E/G ratio of 2.63 and a beta of 0.32.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share for the quarter, topping 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 business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business earned $0.37 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. analysts anticipate that Conagra Brands Inc. will post 1.89 earnings per share for the current 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 dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Monday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is currently 60.28%.
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 transaction of $4,589,029.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.79% of the stock is currently owned by corporate 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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