Swiss National Bank trimmed its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,754,419 shares of the company’s stock after selling 28,800 shares during the period. Swiss National Bank owned about 0.44% of Conagra Brands worth $66,089,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CAG. Dimensional Fund Advisors LP boosted its position in Conagra Brands by 2.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,392,135 shares of the company’s stock valued at $49,786,000 after buying an additional 31,340 shares during the period. Macquarie Group Ltd. boosted its position in Conagra Brands by 120.2% during the second quarter. Macquarie Group Ltd. now owns 19,600 shares of the company’s stock valued at $701,000 after buying an additional 10,700 shares during the period. Verition Fund Management LLC boosted its position in Conagra Brands by 204.8% during the second quarter. Verition Fund Management LLC now owns 17,385 shares of the company’s stock valued at $622,000 after buying an additional 11,681 shares during the period. Koch Industries Inc. boosted its position in Conagra Brands by 6,018.5% during the second quarter. Koch Industries Inc. now owns 338,045 shares of the company’s stock valued at $329,000 after buying an additional 332,520 shares during the period. Finally, Toronto Dominion Bank boosted its position in Conagra Brands by 22.1% during the second quarter. Toronto Dominion Bank now owns 142,318 shares of the company’s stock valued at $5,088,000 after buying an additional 25,718 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.
In other news, SVP Robert G. Wise sold 23,170 shares of the stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $37.87, for a total transaction of $877,447.90. Following the sale, the senior vice president now owns 51,859 shares in the company, valued at $1,963,900.33. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Colleen Batcheler sold 120,451 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total transaction of $4,516,912.50. Following the sale, the executive vice president now owns 211,514 shares in the company, valued at approximately $7,931,775. The disclosure for this sale can be found here. Insiders have sold 154,121 shares of company stock valued at $5,793,780 in the last ninety days. Insiders own 0.79% of the company’s stock.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. Conagra Brands had a net margin of 9.04% and a return on equity of 19.58%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. equities research analysts expect that Conagra Brands Inc will post 1.92 EPS for the current fiscal year.
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 paid a dividend of $0.213 per share. This is an increase from Conagra Brands’s previous quarterly dividend of $0.21. The ex-dividend date is Monday, January 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.40%. Conagra Brands’s dividend payout ratio (DPR) is currently 50.90%.
Several equities analysts have recently commented on the stock. Stifel Nicolaus raised shares of Conagra Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $36.00 to $38.00 in a research note on Sunday, October 29th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, November 22nd. UBS Group raised shares of Conagra Brands from a “sell” rating to a “neutral” rating and increased their price target for the stock from $33.00 to $37.00 in a research note on Tuesday, December 12th. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Finally, Credit Suisse Group set a $40.00 price target on shares of Conagra Brands and gave the stock a “hold” rating in a research note on Monday, December 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.00.
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About Conagra Brands
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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