Conagra Brands Inc (NYSE:CAG) EVP David Biegger Sells 33,634 Shares of Stock
Conagra Brands Inc (NYSE:CAG) EVP David Biegger sold 33,634 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $37.66, for a total transaction of $1,266,656.44. Following the sale, the executive vice president now owns 66,697 shares in the company, valued at approximately $2,511,809.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
CAG stock opened at $37.45 on Friday. The company has a quick ratio of 0.46, a current ratio of 0.88 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 2.23 and a beta of 0.85. Conagra Brands Inc has a 12 month low of $22.83 and a 12 month high of $37.82. The firm has a 50 day moving average of $35.17 and a two-hundred day moving average of $32.41.
Conagra Brands (NYSE:CAG) last posted its earnings results on Tuesday, June 30th. The company reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.09. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.13 billion. Conagra Brands had a net margin of 7.60% and a return on equity of 14.38%. The company’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 earnings per share. On average, research analysts expect that Conagra Brands Inc will post 2.39 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Advanced Asset Management Advisors Inc lifted its stake in shares of Conagra Brands by 32.5% in the second quarter. Advanced Asset Management Advisors Inc now owns 106,000 shares of the company’s stock worth $3,728,000 after buying an additional 26,000 shares during the last quarter. Mackay Shields LLC lifted its stake in shares of Conagra Brands by 3.7% in the second quarter. Mackay Shields LLC now owns 77,355 shares of the company’s stock worth $2,721,000 after buying an additional 2,730 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Conagra Brands by 8.4% in the second quarter. Signaturefd LLC now owns 6,313 shares of the company’s stock worth $222,000 after buying an additional 487 shares during the last quarter. Mitchell Capital Management Co. acquired a new stake in shares of Conagra Brands in the second quarter worth $752,000. Finally, State of Michigan Retirement System lifted its stake in shares of Conagra Brands by 11.5% in the second quarter. State of Michigan Retirement System now owns 124,417 shares of the company’s stock worth $4,376,000 after buying an additional 12,846 shares during the last quarter. Institutional investors and hedge funds own 82.53% of the company’s stock.
A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, April 15th. Jefferies Financial Group raised shares of Conagra Brands to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, June 30th. Standpoint Research downgraded shares of Conagra Brands from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Credit Suisse Group boosted their target price on shares of Conagra Brands from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, July 1st. Finally, Morgan Stanley boosted their target price on shares of Conagra Brands from $32.00 to $35.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $35.29.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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