Tyers Asset Management LLC lessened its position in shares of Conagra Brands Inc (NYSE:CAG) by 36.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,784 shares of the company’s stock after selling 26,368 shares during the period. Tyers Asset Management LLC’s holdings in Conagra Brands were worth $1,241,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Northern Trust Corp lifted its stake in Conagra Brands by 1.7% during the second quarter. Northern Trust Corp now owns 5,922,217 shares of the company’s stock worth $157,056,000 after purchasing an additional 100,250 shares during the last quarter. Nicholas Company Inc. increased its stake in shares of Conagra Brands by 34.9% in the 2nd quarter. Nicholas Company Inc. now owns 420,768 shares of the company’s stock valued at $11,159,000 after purchasing an additional 108,866 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Conagra Brands by 7.6% in the 2nd quarter. Natixis Advisors L.P. now owns 130,531 shares of the company’s stock valued at $3,462,000 after purchasing an additional 9,263 shares during the last quarter. Dynamic Capital Management Ltd bought a new position in shares of Conagra Brands in the 2nd quarter valued at $271,000. Finally, Pacer Advisors Inc. raised its holdings in shares of Conagra Brands by 32.7% during the 2nd quarter. Pacer Advisors Inc. now owns 61,786 shares of the company’s stock worth $1,639,000 after buying an additional 15,241 shares in the last quarter. 87.22% of the stock is owned by institutional investors.
In related news, Director Craig P. Omtvedt bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $26.73 per share, with a total value of $668,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Ann Marshall sold 2,436 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $29.11, for a total transaction of $70,911.96. Following the transaction, the director now directly owns 101,823 shares in the company, valued at $2,964,067.53. The disclosure for this sale can be found here. Insiders sold a total of 33,589 shares of company stock valued at $929,334 in the last quarter. 0.84% of the stock is currently owned by company insiders.
Several brokerages recently weighed in on CAG. Evercore ISI started coverage on Conagra Brands in a research report on Tuesday, June 11th. They set an “outperform” rating and a $36.00 price objective for the company. Morgan Stanley assumed coverage on Conagra Brands in a research report on Monday, May 20th. They issued an “equal weight” rating and a $31.00 target price on the stock. UBS Group set a $32.00 target price on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, June 28th. Citigroup dropped their target price on shares of Conagra Brands from $36.00 to $34.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, Bank of America set a $35.00 price target on shares of Conagra Brands and gave the company a “buy” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company’s stock. Conagra Brands currently has an average rating of “Hold” and a consensus target price of $33.36.
NYSE CAG traded up $0.17 during trading hours on Wednesday, reaching $29.62. The company’s stock had a trading volume of 2,296,105 shares, compared to its average volume of 3,616,782. The firm has a fifty day simple moving average of $28.64 and a 200-day simple moving average of $27.92. The stock has a market cap of $14.32 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.97 and a beta of 0.85. Conagra Brands Inc has a 52 week low of $20.22 and a 52 week high of $38.43. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.28 and a quick ratio of 0.54.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, June 27th. The company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.06). Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The business had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the business posted $0.50 earnings per share. The business’s revenue was up 32.9% on a year-over-year basis. On average, research analysts expect that Conagra Brands Inc will post 2.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Tuesday, July 30th were given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Monday, July 29th. Conagra Brands’s dividend payout ratio (DPR) is 42.29%.
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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