Garde Capital Inc. Invests $577,000 in Conagra Brands Inc. (CAG)
Garde Capital Inc. bought a new position in shares of Conagra Brands Inc. (NYSE:CAG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,100 shares of the company’s stock, valued at approximately $577,000.
Several other hedge funds also recently added to or reduced their stakes in CAG. Sun Life Financial INC increased its stake in shares of Conagra Brands by 32,666.7% during the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after purchasing an additional 2,940 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in Conagra Brands by 143.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after acquiring an additional 1,851 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Conagra Brands by 57.1% during the second quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock worth $168,000 after acquiring an additional 1,705 shares during the last quarter. Krilogy Financial LLC boosted its position in Conagra Brands by 7.7% during the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock worth $185,000 after acquiring an additional 370 shares during the last quarter. Finally, Evercore Wealth Management LLC boosted its position in Conagra Brands by 12.9% during the second quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock worth $226,000 after acquiring an additional 725 shares during the last quarter. 79.03% of the stock is owned by institutional investors and hedge funds.
Conagra Brands Inc. (NYSE:CAG) opened at $37.34 on Thursday. 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 firm has a market cap of $15,339.10, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.83 and a beta of 0.37. Conagra Brands Inc. has a fifty-two week low of $32.16 and a fifty-two week high of $41.68.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, September 28th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.06. The company had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. Conagra Brands’s revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. equities research analysts predict that Conagra Brands Inc. will post 1.89 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, January 30th will be issued a $0.213 dividend. This represents a $0.85 annualized dividend and a yield of 2.28%. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, January 29th. Conagra Brands’s payout ratio is presently 60.28%.
A number of research firms recently weighed in on CAG. UBS upgraded shares of Conagra Brands from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $33.00 to $37.00 in a research report on Tuesday. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Wednesday, November 22nd. Morgan Stanley lowered their price target on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, September 25th. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and boosted their price target 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, Credit Suisse Group lowered their price target on shares of Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, September 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.37.
In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total value of $4,516,912.50. Following the transaction, the executive vice president now directly owns 211,514 shares in the company, valued at approximately $7,931,775. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.
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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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