Insider Selling: Conagra Brands Inc (CAG) SVP Sells 23,170 Shares of Stock
Conagra Brands Inc (NYSE:CAG) SVP Robert G. Wise sold 23,170 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the sale, the senior vice president now directly owns 51,859 shares in the company, valued at approximately $1,963,900.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Conagra Brands Inc (NYSE CAG) traded down $0.54 during trading on Monday, reaching $37.52. The company’s stock had a trading volume of 2,715,796 shares, compared to its average volume of 3,199,080. The company has a quick ratio of 0.54, a current ratio of 1.11 and a debt-to-equity ratio of 0.86. The company has a market cap of $15,030.00, a P/E ratio of 22.33, a P/E/G ratio of 2.88 and a beta of 0.37. Conagra Brands Inc has a 52-week low of $32.16 and a 52-week high of $41.68.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03. The firm had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. equities research analysts predict that Conagra Brands Inc will post 1.89 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, January 30th will be paid a dividend of $0.213 per share. The ex-dividend date is Monday, January 29th. This represents a $0.85 annualized dividend and a yield of 2.27%. This is an increase from Conagra Brands’s previous quarterly dividend of $0.21. Conagra Brands’s payout ratio is presently 50.60%.
A number of institutional investors have recently made changes to their positions in the business. American Century Companies Inc. increased its position in shares of Conagra Brands by 64.0% during the 3rd quarter. American Century Companies Inc. now owns 11,938,659 shares of the company’s stock valued at $402,810,000 after purchasing an additional 4,660,867 shares during the period. Janus Henderson Group PLC increased its position in shares of Conagra Brands by 10,072.6% during the 2nd quarter. Janus Henderson Group PLC now owns 6,144,061 shares of the company’s stock valued at $219,711,000 after purchasing an additional 6,083,663 shares during the period. Valueinvest Asset Management S.A. increased its position in shares of Conagra Brands by 15.7% during the 3rd quarter. Valueinvest Asset Management S.A. now owns 4,591,150 shares of the company’s stock valued at $154,905,000 after purchasing an additional 621,600 shares during the period. AJO LP increased its position in shares of Conagra Brands by 757.3% during the 2nd quarter. AJO LP now owns 3,118,724 shares of the company’s stock valued at $111,526,000 after purchasing an additional 2,754,930 shares during the period. Finally, Numeric Investors LLC increased its position in shares of Conagra Brands by 75.2% during the 2nd quarter. Numeric Investors LLC now owns 3,077,000 shares of the company’s stock valued at $110,034,000 after purchasing an additional 1,321,100 shares during the period. 78.88% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on CAG shares. Royal Bank of Canada reissued a “buy” rating and issued a $45.00 price target on shares of Conagra Brands in a report on Friday, September 29th. Stifel Nicolaus raised their price target on Conagra Brands from $38.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, November 22nd. Jefferies Group reissued a “buy” rating and issued a $40.00 price target on shares of Conagra Brands in a report on Tuesday, October 3rd. Finally, Credit Suisse Group set a $40.00 price target on Conagra Brands and gave the stock a “hold” rating in a report on Monday, December 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $40.95.
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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