Oregon Public Employees Retirement Fund reduced its position in Conagra Brands Inc (NYSE:CAG) by 3.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,116 shares of the company’s stock after selling 1,610 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Conagra Brands were worth $1,465,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CAG. Fort L.P. bought a new stake in shares of Conagra Brands in the 2nd quarter valued at about $117,000. LFA Lugano Financial Advisors SA raised its position in shares of Conagra Brands by 137.6% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock valued at $175,000 after purchasing an additional 2,984 shares during the last quarter. Lucia Wealth Services LLC purchased a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $184,000. Lincoln National Corp purchased a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $200,000. Finally, Zacks Investment Management purchased a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $203,000. Institutional investors and hedge funds own 81.52% of the company’s stock.
In other Conagra Brands news, insider Sean Connolly purchased 14,184 shares of Conagra Brands stock in a transaction on Friday, October 12th. The stock was bought at an average cost of $35.25 per share, with a total value of $499,986.00. Following the transaction, the insider now owns 217,607 shares of the company’s stock, valued at approximately $7,670,646.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David S. Marberger purchased 2,836 shares of Conagra Brands stock in a transaction on Friday, October 12th. The shares were acquired at an average cost of $35.25 per share, with a total value of $99,969.00. Following the completion of the transaction, the chief financial officer now directly owns 12,721 shares in the company, valued at approximately $448,415.25. The disclosure for this purchase can be found here. Insiders have acquired a total of 24,112 shares of company stock valued at $849,948 over the last three months. 0.92% of the stock is currently owned by insiders.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, September 27th. The company reported $0.47 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Conagra Brands had a net margin of 10.47% and a return on equity of 22.50%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Analysts expect that Conagra Brands Inc will post 2.15 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, October 17th will be given a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Tuesday, October 16th. Conagra Brands’s dividend payout ratio is presently 40.28%.
Several brokerages recently commented on CAG. Stephens began coverage on shares of Conagra Brands in a research report on Monday, August 20th. They issued an “overweight” rating and a $45.00 price objective for the company. Goldman Sachs Group reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Conagra Brands in a research report on Wednesday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Conagra Brands from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, July 27th. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, August 29th. Finally, Credit Suisse Group began coverage on shares of Conagra Brands in a research report on Wednesday. They issued a “neutral” rating and a $40.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $42.70.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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