Insider Buying: Conagra Brands (NYSE:CAG) Director Buys 25,000 Shares of Stock

Conagra Brands (NYSE:CAG) Director Richard Lenny bought 25,000 shares of Conagra Brands stock in a transaction dated Tuesday, April 14th. The stock was purchased at an average price of $14.34 per share, with a total value of $358,500.00. Following the purchase, the director owned 229,340 shares in the company, valued at approximately $3,288,735.60. This represents a 12.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Conagra Brands Stock Performance

CAG traded down $0.20 during trading on Wednesday, hitting $14.09. 19,139,057 shares of the company traded hands, compared to its average volume of 14,635,364. The firm has a market cap of $6.74 billion, a P/E ratio of -140.84 and a beta of 0.04. The stock’s fifty day moving average is $17.35 and its 200 day moving average is $17.55. The company has a quick ratio of 0.30, a current ratio of 0.90 and a debt-to-equity ratio of 0.79. Conagra Brands has a one year low of $14.04 and a one year high of $25.77.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Conagra Brands had a negative net margin of 0.39% and a positive return on equity of 10.15%. Conagra Brands’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS. As a group, equities analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Thursday, April 30th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, April 30th. This represents a $1.40 annualized dividend and a yield of 9.9%. Conagra Brands’s dividend payout ratio is presently -1,400.00%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAG. TD Cowen reduced their price target on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, March 25th. Zacks Research upgraded shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. BTIG Research began coverage on shares of Conagra Brands in a research report on Monday. They set a “neutral” rating for the company. Bank of America reduced their price target on shares of Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a research report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, March 30th. One research analyst has rated the stock with a Buy rating, thirteen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Reduce” and a consensus target price of $16.07.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. CYBER HORNET ETFs LLC bought a new position in Conagra Brands in the 2nd quarter worth approximately $26,000. MUFG Securities EMEA plc bought a new position in Conagra Brands in the 2nd quarter worth approximately $29,000. Harbour Investments Inc. boosted its holdings in Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after buying an additional 701 shares during the period. True Wealth Design LLC boosted its holdings in Conagra Brands by 844.4% in the 3rd quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock worth $29,000 after buying an additional 1,427 shares during the period. Finally, Spire Wealth Management boosted its holdings in Conagra Brands by 249.0% in the 3rd quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock worth $32,000 after buying an additional 1,230 shares during the period. 83.75% of the stock is owned by institutional investors.

Conagra Brands Company Profile

Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.

Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.