Keybank National Association OH trimmed its holdings in shares of Conagra Brands Inc. (NYSE:CAG) by 19.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,699 shares of the company’s stock after selling 7,485 shares during the period. Keybank National Association OH’s holdings in Conagra Brands were worth $1,070,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Sun Life Financial INC raised 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 buying an additional 2,940 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Conagra Brands during the first quarter worth approximately $110,000. Bronfman E.L. Rothschild L.P. raised its stake in shares of 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 buying an additional 1,851 shares during the last quarter. Alpha Windward LLC raised its stake in shares of Conagra Brands by 5.8% during the second quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock worth $128,000 after buying an additional 196 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Conagra Brands by 53.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,833 shares of the company’s stock worth $137,000 after buying an additional 1,333 shares during the last quarter. 79.33% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on CAG. Royal Bank Of Canada reissued a “buy” rating and set a $45.00 price target on shares of Conagra Brands in a research note on Friday, September 29th. Credit Suisse Group restated a “hold” rating and set a $39.00 price objective on shares of Conagra Brands in a report on Friday, August 11th. BidaskClub upgraded shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and boosted their price objective for the company from $36.00 to $38.00 in a report on Sunday, October 29th. They noted that the move was a valuation call. Finally, Jefferies Group LLC restated a “buy” rating and set a $40.00 price objective on shares of Conagra Brands in a report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $40.03.
Conagra Brands Inc. (CAG) opened at $34.84 on Tuesday. The firm has a market cap of $14,215.73, a P/E ratio of 19.33, a PEG ratio of 2.63 and a beta of 0.32. Conagra Brands Inc. has a 1-year low of $32.16 and a 1-year high of $41.68. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 0.71.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.06. The company had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 earnings per share. sell-side analysts expect that Conagra Brands Inc. will post 1.89 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, October 13th will be issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Monday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is presently 60.28%.
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In other news, EVP Colleen Batcheler sold 133,869 shares of the company’s stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $34.28, for a total value of $4,589,029.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by corporate insiders.
Conagra Brands 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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