Wealthcare Advisory Partners LLC bought a new stake in Conagra Brands Inc. (NYSE:CAG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 28,229 shares of the company’s stock, valued at approximately $952,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Paradigm Asset Management Co. LLC increased its holdings in Conagra Brands by 7.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 100,470 shares of the company’s stock worth $3,593,000 after purchasing an additional 7,000 shares in the last quarter. State of Tennessee Treasury Department increased its holdings in Conagra Brands by 1.2% during the 2nd quarter. State of Tennessee Treasury Department now owns 1,360,161 shares of the company’s stock worth $48,640,000 after purchasing an additional 16,143 shares in the last quarter. Alethea Capital Management LLC bought a new stake in Conagra Brands during the 2nd quarter worth approximately $3,610,000. Sciencast Management LP bought a new stake in Conagra Brands during the 2nd quarter worth approximately $1,262,000. Finally, Victory Capital Management Inc. increased its holdings in Conagra Brands by 482.0% during the 3rd quarter. Victory Capital Management Inc. now owns 289,392 shares of the company’s stock worth $9,764,000 after purchasing an additional 239,667 shares in the last quarter. 79.03% of the stock is owned by hedge funds and other institutional investors.
Shares of Conagra Brands Inc. (CAG) opened at $37.55 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71. Conagra Brands Inc. has a 1-year low of $32.16 and a 1-year high of $41.68. The stock has a market cap of $15,212.47, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 2.81 and a beta of 0.37.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Tuesday, January 30th will be issued a dividend of $0.213 per share. This is a boost from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, January 29th. This represents a $0.85 dividend on an annualized basis and a yield of 2.27%. Conagra Brands’s payout ratio is presently 60.28%.
In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of the business’s stock in a transaction on Friday, October 13th. The shares were sold at an average price of $34.28, for a total transaction of $4,589,029.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
CAG has been the topic of a number of research analyst reports. BidaskClub downgraded Conagra Brands from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 26th. Royal Bank of Canada restated a “buy” rating and issued a $45.00 target price on shares of Conagra Brands in a research note on Friday, September 29th. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Jefferies Group restated a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a research note on Tuesday, October 3rd. Finally, Credit Suisse Group dropped their price objective on Conagra Brands from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Monday, September 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company. Conagra Brands presently has an average rating of “Buy” and a consensus price target of $40.37.
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Conagra Brands 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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