NuWave Investment Management LLC purchased a new position in Conagra Brands Inc (NYSE:CAG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,036 shares of the company’s stock, valued at approximately $114,000.
A number of other large investors have also bought and sold shares of CAG. Vantage Investment Advisors LLC raised its position in Conagra Brands by 625.7% in the fourth quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock worth $113,000 after purchasing an additional 2,578 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Conagra Brands in the fourth quarter worth about $161,000. Strategic Financial Services Inc acquired a new position in Conagra Brands in the fourth quarter worth about $203,000. Iberiabank Corp acquired a new position in Conagra Brands in the fourth quarter worth about $207,000. Finally, Kovack Advisors Inc. acquired a new position in Conagra Brands in the fourth quarter worth about $222,000. 79.61% of the stock is owned by hedge funds and other institutional investors.
Shares of Conagra Brands Inc (NYSE:CAG) opened at $35.54 on Thursday. The firm has a market cap of $14,211.44, a P/E ratio of 19.07, a PEG ratio of 2.31 and a beta of 0.27. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.54 and a current ratio of 1.11. Conagra Brands Inc has a fifty-two week low of $32.16 and a fifty-two week high of $41.68.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be issued a dividend of $0.213 per share. 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. This represents a $0.85 annualized dividend and a dividend yield of 2.40%. Conagra Brands’s dividend payout ratio (DPR) is presently 50.90%.
Several research analysts recently issued reports on CAG shares. Stifel Nicolaus raised shares of Conagra Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Wednesday, November 22nd. UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and increased their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, December 12th. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. Finally, Credit Suisse Group set a $40.00 price objective on shares of 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, three have issued a hold rating and eight have given a buy rating to the company’s stock. Conagra Brands has an average rating of “Buy” and an average price target of $41.00.
In related news, SVP Robert G. Wise sold 23,170 shares of the firm’s stock in a transaction that occurred on Thursday, January 4th. The shares were 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 owns 51,859 shares of the company’s stock, valued at $1,963,900.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Colleen Batcheler sold 120,451 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the completion of the sale, the executive vice president now directly owns 211,514 shares of the company’s stock, valued at approximately $7,931,775. The disclosure for this sale can be found here. In the last three months, insiders sold 154,121 shares of company stock valued at $5,793,780. 0.79% of the stock is currently owned by company insiders.
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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.
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