Gateway Investment Advisers LLC acquired a new stake in shares of Conagra Brands, Inc. (NYSE:CAG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,446 shares of the company’s stock, valued at approximately $205,000.
Other large investors also recently added to or reduced their stakes in the company. HM Payson & Co. boosted its position in shares of Conagra Brands by 32.1% during the third quarter. HM Payson & Co. now owns 2,675 shares of the company’s stock valued at $96,000 after buying an additional 650 shares during the last quarter. TCW Group Inc. increased its stake in Conagra Brands by 0.3% in the 4th quarter. TCW Group Inc. now owns 1,253,388 shares of the company’s stock worth $45,447,000 after acquiring an additional 4,205 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Conagra Brands by 0.7% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 59,748 shares of the company’s stock worth $2,134,000 after acquiring an additional 409 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Conagra Brands in the 4th quarter worth approximately $593,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Conagra Brands by 3.8% in the 4th quarter. Toronto Dominion Bank now owns 502,021 shares of the company’s stock worth $18,203,000 after purchasing an additional 18,383 shares during the period. 82.11% of the stock is owned by hedge funds and other institutional investors.
In other Conagra Brands news, COO Thomas M. Mcgough sold 45,660 shares of the firm’s stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $37.55, for a total value of $1,714,533.00. Following the sale, the chief operating officer now owns 102,001 shares in the company, valued at $3,830,137.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas M. Mcgough sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, April 16th. The shares were sold at an average price of $37.51, for a total transaction of $1,875,500.00. Following the completion of the sale, the chief operating officer now owns 106,341 shares in the company, valued at approximately $3,988,850.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 120,000 shares of company stock valued at $4,502,783. 2.60% of the stock is currently owned by corporate insiders.
Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, April 7th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.01. The business had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.72 billion. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 EPS. On average, equities analysts anticipate that Conagra Brands, Inc. will post 2.6 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 2nd. Shareholders of record on Friday, April 30th will be given a $0.275 dividend. The ex-dividend date is Thursday, April 29th. This represents a $1.10 dividend on an annualized basis and a yield of 2.87%. Conagra Brands’s payout ratio is currently 48.25%.
Several equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Conagra Brands from $37.00 to $38.00 in a report on Friday, April 9th. Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 target price on the stock in a research report on Monday, January 11th. Credit Suisse Group upped their target price on Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a research report on Monday, March 29th. Citigroup started coverage on Conagra Brands in a research note on Tuesday. They set a “neutral” rating and a $42.00 price target on the stock. Finally, Jefferies Financial Group started coverage on Conagra Brands in a research note on Friday, January 8th. They issued a “buy” rating and a $41.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $37.44.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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