Krilogy Financial LLC grew its holdings in Conagra Brands Inc. (NYSE:CAG) by 7.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,170 shares of the company’s stock after purchasing an additional 370 shares during the period. Krilogy Financial LLC’s holdings in Conagra Brands were worth $185,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of CAG. Waldron LP acquired a new stake in shares of Conagra Brands in the first quarter valued at approximately $216,000. Ameriprise Financial Inc. raised its holdings in shares of Conagra Brands by 0.9% in the first quarter. Ameriprise Financial Inc. now owns 185,287 shares of the company’s stock valued at $7,476,000 after purchasing an additional 1,671 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Conagra Brands by 447.2% in the first quarter. Victory Capital Management Inc. now owns 42,799 shares of the company’s stock valued at $1,727,000 after purchasing an additional 34,978 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Conagra Brands in the first quarter valued at approximately $1,344,000. Finally, Legal & General Group Plc raised its holdings in shares of Conagra Brands by 4.8% in the first quarter. Legal & General Group Plc now owns 2,182,631 shares of the company’s stock valued at $88,052,000 after purchasing an additional 99,383 shares during the last quarter. Institutional investors own 79.75% of the company’s stock.
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CAG has been the topic of a number of recent research reports. BidaskClub downgraded shares of Conagra Brands from a “sell” rating to a “strong sell” rating in a report on Saturday, August 26th. Morgan Stanley lowered their price objective on shares of Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, September 25th. Credit Suisse Group lowered their price objective on shares of Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Monday, September 25th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $42.00 price objective (down from $44.00) on shares of Conagra Brands in a report on Wednesday, June 28th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of Conagra Brands in a report on Tuesday, October 3rd. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $41.31.
Conagra Brands Inc. (CAG) traded down 0.78% during trading on Friday, hitting $34.32. 1,855,835 shares of the company traded hands. The stock has a 50-day moving average price of $33.76 and a 200-day moving average price of $36.33. Conagra Brands Inc. has a 12-month low of $32.16 and a 12-month high of $41.68. The firm has a market capitalization of $14.02 billion, a P/E ratio of 24.67 and a beta of 0.31.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period last year, the firm posted $0.37 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. Equities analysts expect that Conagra Brands Inc. will post $1.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, October 13th will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Monday, October 30th. Conagra Brands’s dividend payout ratio is presently 60.28%.
Conagra Brands declared that its board has authorized a stock repurchase program on Thursday, June 29th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Conagra Brands Company Profile
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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