Cubist Systematic Strategies LLC Has $130,000 Position in Conagra Brands Inc (CAG)

Cubist Systematic Strategies LLC cut its stake in shares of Conagra Brands Inc (NYSE:CAG) by 98.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,855 shares of the company’s stock after selling 186,077 shares during the period. Cubist Systematic Strategies LLC’s holdings in Conagra Brands were worth $130,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CAG. Schroder Investment Management Group grew its stake in shares of Conagra Brands by 65.1% during the second quarter. Schroder Investment Management Group now owns 55,074 shares of the company’s stock worth $1,987,000 after purchasing an additional 21,706 shares during the period. Commonwealth Bank of Australia grew its stake in shares of Conagra Brands by 111.6% during the second quarter. Commonwealth Bank of Australia now owns 28,845 shares of the company’s stock worth $1,030,000 after purchasing an additional 15,214 shares during the period. Franklin Resources Inc. grew its stake in shares of Conagra Brands by 346.2% during the second quarter. Franklin Resources Inc. now owns 110,996 shares of the company’s stock worth $3,969,000 after purchasing an additional 86,120 shares during the period. Norinchukin Bank The grew its stake in shares of Conagra Brands by 4.4% during the second quarter. Norinchukin Bank The now owns 28,052 shares of the company’s stock worth $1,003,000 after purchasing an additional 1,185 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Conagra Brands by 43.2% during the second quarter. Amalgamated Bank now owns 46,193 shares of the company’s stock worth $1,652,000 after purchasing an additional 13,935 shares during the period. 78.88% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have issued reports on CAG shares. Credit Suisse Group set a $40.00 target price on Conagra Brands and gave the company a “hold” rating in a research note on Monday, December 25th. Stifel Nicolaus boosted their target price on Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Sanford C. Bernstein raised Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Morgan Stanley decreased their target price on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, September 25th. Finally, Jefferies Group reissued a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. Conagra Brands currently has a consensus rating of “Buy” and a consensus price target of $40.95.

In other news, SVP Robert G. Wise sold 23,170 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the sale, the senior vice president now directly owns 51,859 shares in the company, valued at $1,963,900.33. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Colleen Batcheler sold 120,451 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total value of $4,516,912.50. Following the completion of the sale, the executive vice president now owns 211,514 shares in the company, valued at $7,931,775. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 154,121 shares of company stock worth $5,793,780. Corporate insiders own 0.79% of the company’s stock.

Conagra Brands Inc (NYSE CAG) opened at $36.71 on Friday. Conagra Brands Inc has a 52 week low of $32.16 and a 52 week high of $41.68. 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 stock has a market capitalization of $14,710.00, a PE ratio of 21.85, a price-to-earnings-growth ratio of 2.78 and a beta of 0.37.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 21st. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $2.17 billion for the quarter, compared to analyst estimates of $2.07 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.49 earnings per share. equities research analysts predict that Conagra Brands Inc will post 1.89 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be issued a $0.213 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s payout ratio is 50.60%.

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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.

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

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