First National Bank of Omaha increased its stake in Conagra Brands Inc (NYSE:CAG) by 2.6% during the first quarter, Holdings Channel reports. The firm owned 110,684 shares of the company’s stock after buying an additional 2,796 shares during the period. First National Bank of Omaha’s holdings in Conagra Brands were worth $4,465,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Alpha Windward LLC increased its position in Conagra Brands by 2.2% in the third quarter. Alpha Windward LLC now owns 2,838 shares of the company’s stock valued at $134,000 after buying an additional 61 shares during the period. First Manhattan Co. increased its position in Conagra Brands by 11.5% in the third quarter. First Manhattan Co. now owns 9,679 shares of the company’s stock valued at $455,000 after buying an additional 1,000 shares during the period. PGGM Investments increased its position in Conagra Brands by 4.7% in the third quarter. PGGM Investments now owns 386,794 shares of the company’s stock valued at $18,222,000 after buying an additional 17,339 shares during the period. Independence Trust CO increased its position in Conagra Brands by 7.0% in the third quarter. Independence Trust CO now owns 6,501 shares of the company’s stock valued at $306,000 after buying an additional 426 shares during the period. Finally, YHB Investment Advisors Inc. increased its position in Conagra Brands by 18.1% in the third quarter. YHB Investment Advisors Inc. now owns 5,550 shares of the company’s stock valued at $261,000 after buying an additional 850 shares during the period. Hedge funds and other institutional investors own 76.28% of the company’s stock.
Conagra Brands Inc (NYSE:CAG) traded down 0.17% during mid-day trading on Thursday, reaching $40.55. 1,112,197 shares of the company’s stock were exchanged. The stock has a market capitalization of $17.25 billion, a PE ratio of 29.49 and a beta of 0.30. The firm’s 50-day moving average is $40.73 and its 200 day moving average is $38.59. 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 earnings results on Thursday, March 23rd. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The business had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.98 billion. Conagra Brands had a net margin of 6.00% and a return on equity of 25.62%. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Analysts forecast that Conagra Brands Inc will post $1.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Friday, April 28th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Wednesday, April 26th. Conagra Brands’s payout ratio is 55.94%.
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CAG has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price target on shares of Conagra Brands in a research report on Friday, December 23rd. Credit Suisse Group AG upped their price target on shares of Conagra Brands from $35.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, December 23rd. Zacks Investment Research upgraded shares of Conagra Brands from a “strong sell” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Tuesday, January 10th. Citigroup Inc upgraded shares of Conagra Brands from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 11th. Finally, Vetr downgraded shares of Conagra Brands from a “strong-buy” rating to a “hold” rating and set a $40.38 price target for the company. in a research report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $45.76.
In other news, Director Ruth Ann Marshall sold 6,046 shares of Conagra Brands stock in a transaction dated Wednesday, March 29th. The shares were sold at an average price of $40.61, for a total value of $245,528.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.58% of the stock is owned by insiders.
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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