Numeric Investors LLC reduced its position in Conagra Brands Inc (NYSE:CAG) by 90.5% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,300 shares of the company’s stock after selling 107,100 shares during the period. Numeric Investors LLC’s holdings in Conagra Brands were worth $447,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Garde Capital Inc. bought a new position in Conagra Brands during the third quarter worth $693,000. Hedeker Wealth LLC bought a new position in Conagra Brands during the third quarter worth $764,000. First Financial Corp IN boosted its position in Conagra Brands by 14.9% in the third quarter. First Financial Corp IN now owns 42,941 shares of the company’s stock worth $2,023,000 after buying an additional 5,573 shares during the period. Advisor Consultant Network Inc. bought a new position in Conagra Brands during the third quarter worth $3,003,000. Finally, National Pension Service boosted its position in Conagra Brands by 8.8% in the third quarter. National Pension Service now owns 314,386 shares of the company’s stock worth $14,811,000 after buying an additional 25,430 shares during the period. 76.28% of the stock is owned by institutional investors.
Conagra Brands Inc (NYSE:CAG) opened at 41.42 on Monday. The firm has a market capitalization of $18.03 billion, a price-to-earnings ratio of 29.21 and a beta of 0.30. The company has a 50-day moving average price of $40.28 and a 200 day moving average price of $37.84. Conagra Brands Inc has a 1-year low of $33.61 and a 1-year high of $48.86.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The firm earned $2.09 billion during the quarter. Conagra Brands had a return on equity of 25.62% and a net margin of 6.00%. The business’s revenue for the quarter was down 32.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 earnings per share. Equities analysts anticipate that Conagra Brands Inc will post $1.70 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Shareholders of record on Monday, January 30th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Thursday, January 26th. Conagra Brands’s payout ratio is currently 55.94%.
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A number of equities analysts have recently weighed in on the company. Deutsche Bank AG assumed coverage on Conagra Brands in a report on Wednesday, February 15th. They issued a “buy” rating and a $46.00 price target for the company. Credit Suisse Group AG boosted their price target on Conagra Brands from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Saturday, December 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of Conagra Brands in a report on Friday, December 23rd. Vetr cut Conagra Brands from a “strong-buy” rating to a “hold” rating and set a $40.38 price target for the company. in a report on Monday, January 23rd. Finally, Zacks Investment Research raised Conagra Brands from a “strong sell” rating to a “buy” rating and set a $43.00 price target for the company in a report on Tuesday, January 10th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $46.67.
In other Conagra Brands news, Director Joie A. Gregor sold 3,300 shares of the stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $39.01, for a total transaction of $128,733.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.58% of the company’s stock.
Conagra Brands Company 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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