Ossiam Acquires 155,162 Shares of Conagra Brands, Inc. (NYSE:CAG)

Ossiam increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 1,256.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,514 shares of the company’s stock after buying an additional 155,162 shares during the period. Ossiam’s holdings in Conagra Brands were worth $5,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CSat Investment Advisory L.P. raised its stake in Conagra Brands by 27.6% during the first quarter. CSat Investment Advisory L.P. now owns 1,222 shares of the company’s stock worth $46,000 after buying an additional 264 shares during the last quarter. Mark Sheptoff Financial Planning LLC increased its stake in Conagra Brands by 37.5% in the second quarter. Mark Sheptoff Financial Planning LLC now owns 1,100 shares of the company’s stock valued at $40,000 after purchasing an additional 300 shares in the last quarter. Resources Investment Advisors LLC. increased its stake in Conagra Brands by 0.4% in the second quarter. Resources Investment Advisors LLC. now owns 72,868 shares of the company’s stock valued at $2,651,000 after purchasing an additional 303 shares in the last quarter. Sandy Spring Bank increased its stake in Conagra Brands by 19.9% in the second quarter. Sandy Spring Bank now owns 1,856 shares of the company’s stock valued at $67,000 after purchasing an additional 308 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Conagra Brands by 0.4% in the second quarter. State of Alaska Department of Revenue now owns 84,780 shares of the company’s stock valued at $3,083,000 after purchasing an additional 334 shares in the last quarter. 83.88% of the stock is owned by institutional investors and hedge funds.

Shares of Conagra Brands stock traded down $0.03 during trading on Thursday, reaching $33.13. The company’s stock had a trading volume of 13,498 shares, compared to its average volume of 3,595,520. Conagra Brands, Inc. has a 52-week low of $32.25 and a 52-week high of $39.09. The company has a market cap of $15.89 billion, a price-to-earnings ratio of 12.47, a PEG ratio of 1.91 and a beta of 0.88. The firm’s 50-day moving average is $33.46 and its two-hundred day moving average is $35.58. The company has a quick ratio of 0.29, a current ratio of 0.82 and a debt-to-equity ratio of 0.96.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, October 6th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Conagra Brands had a net margin of 11.61% and a return on equity of 15.33%. The company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the company earned $0.70 EPS. The firm’s revenue was down 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.47 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 1st. Stockholders of record on Monday, November 1st will be paid a $0.3125 dividend. The ex-dividend date of this dividend is Friday, October 29th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.77%. Conagra Brands’s dividend payout ratio (DPR) is 47.35%.

A number of research analysts have recently issued reports on CAG shares. Stifel Nicolaus cut shares of Conagra Brands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $35.00 in a report on Wednesday, July 14th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $38.00 price objective on shares of Conagra Brands in a research report on Friday, October 8th. Credit Suisse Group raised shares of Conagra Brands from an “underperform” rating to a “neutral” rating and set a $34.00 price objective on the stock in a research report on Wednesday, September 29th. JPMorgan Chase & Co. lowered shares of Conagra Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $41.00 to $38.00 in a research report on Friday, October 8th. They noted that the move was a valuation call. Finally, Bank of America lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and lowered their price target for the company from $44.00 to $36.00 in a research report on Wednesday, July 14th. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $37.00.

In other news, EVP Colleen Batcheler sold 6,210 shares of the company’s stock in a transaction on Wednesday, July 21st. The shares were sold at an average price of $34.96, for a total value of $217,101.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.10% of the stock is currently owned by corporate insiders.

About Conagra Brands

Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.

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

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