Rhumbline Advisers Acquires 68,520 Shares of Conagra Brands, Inc. (NYSE:CAG)

Rhumbline Advisers lifted its position in Conagra Brands, Inc. (NYSE:CAGGet Rating) by 8.9% in the second quarter, HoldingsChannel.com reports. The firm owned 835,236 shares of the company’s stock after purchasing an additional 68,520 shares during the quarter. Rhumbline Advisers’ holdings in Conagra Brands were worth $28,598,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sage Private Wealth Group LLC purchased a new stake in shares of Conagra Brands in the second quarter worth $28,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Conagra Brands in the first quarter worth $31,000. Clearstead Advisors LLC increased its stake in shares of Conagra Brands by 60.1% in the first quarter. Clearstead Advisors LLC now owns 996 shares of the company’s stock worth $33,000 after purchasing an additional 374 shares in the last quarter. MCF Advisors LLC purchased a new position in Conagra Brands during the first quarter valued at $52,000. Finally, J.W. Cole Advisors Inc. purchased a new position in Conagra Brands during the first quarter valued at $53,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Conagra Brands stock opened at $36.87 on Thursday. The firm has a 50-day moving average price of $34.68 and a 200-day moving average price of $34.19. The firm has a market capitalization of $17.67 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 2.49 and a beta of 0.60. The company has a current ratio of 0.78, a quick ratio of 0.24 and a debt-to-equity ratio of 0.88. Conagra Brands, Inc. has a 12-month low of $30.06 and a 12-month high of $36.97.

Conagra Brands (NYSE:CAGGet Rating) last announced its quarterly earnings data on Thursday, October 6th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.05. Conagra Brands had a net margin of 4.88% and a return on equity of 13.40%. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same quarter last year, the business posted $0.50 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.44 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 3rd will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.58%. Conagra Brands’s payout ratio is 110.92%.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, EVP Carey Bartell sold 6,408 shares of the firm’s stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $34.50, for a total transaction of $221,076.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.98% of the company’s stock.

Wall Street Analysts Forecast Growth

CAG has been the subject of several research analyst reports. BNP Paribas initiated coverage on shares of Conagra Brands in a research note on Tuesday, November 15th. They set an “outperform” rating and a $42.00 target price for the company. StockNews.com initiated coverage on shares of Conagra Brands in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Conagra Brands from $32.00 to $33.00 and gave the company a “hold” rating in a research note on Friday, October 7th. UBS Group raised shares of Conagra Brands from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $35.00 to $41.00 in a research note on Friday, November 18th. Finally, TheStreet raised shares of Conagra Brands from a “c+” rating to a “b-” rating in a research note on Friday, October 28th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.75.

Conagra Brands Profile

(Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

Recommended Stories

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands, Inc. (NYSE:CAGGet Rating).

Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.