Gulf International Bank UK Ltd cut its stake in shares of Conagra Brands (NYSE:CAG) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,851 shares of the company’s stock after selling 2,699 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Conagra Brands were worth $4,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. American Century Companies Inc. lifted its holdings in Conagra Brands by 1.6% in the 1st quarter. American Century Companies Inc. now owns 11,837,834 shares of the company’s stock worth $436,579,000 after buying an additional 188,515 shares during the period. Bank of New York Mellon Corp lifted its holdings in Conagra Brands by 19.5% in the 4th quarter. Bank of New York Mellon Corp now owns 9,376,444 shares of the company’s stock worth $353,210,000 after buying an additional 1,528,107 shares during the period. Geode Capital Management LLC lifted its holdings in Conagra Brands by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 5,120,436 shares of the company’s stock worth $192,547,000 after buying an additional 225,403 shares during the period. Valueinvest Asset Management S.A. lifted its holdings in Conagra Brands by 3.3% in the 4th quarter. Valueinvest Asset Management S.A. now owns 4,742,450 shares of the company’s stock worth $178,648,000 after buying an additional 151,300 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Conagra Brands by 1.4% in the 4th quarter. Jennison Associates LLC now owns 3,604,098 shares of the company’s stock worth $135,766,000 after buying an additional 50,034 shares during the period. Institutional investors own 76.71% of the company’s stock.
In related news, SVP Robert G. Wise sold 5,908 shares of the firm’s stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $37.12, for a total transaction of $219,304.96. Following the completion of the transaction, the senior vice president now owns 22,781 shares of the company’s stock, valued at approximately $845,630.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen G. Butler sold 12,092 shares of the firm’s stock in a transaction that occurred on Friday, April 6th. The shares were sold at an average price of $37.18, for a total value of $449,580.56. Following the transaction, the director now directly owns 127,755 shares of the company’s stock, valued at approximately $4,749,930.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,046 shares of company stock valued at $885,695. 0.79% of the stock is owned by corporate insiders.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, March 22nd. The company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.05. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the business posted $0.48 EPS. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. research analysts expect that Conagra Brands will post 2.05 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Monday, April 30th will be given a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, April 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 48.85%.
Several research firms have weighed in on CAG. UBS increased their price objective on Conagra Brands from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, March 23rd. JPMorgan Chase lowered their target price on Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, March 23rd. Zacks Investment Research cut Conagra Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Royal Bank of Canada restated a “buy” rating and issued a $46.00 target price on shares of Conagra Brands in a research note on Friday, March 23rd. Finally, Jefferies Group restated a “buy” rating and issued a $44.00 target price on shares of Conagra Brands in a research note on Thursday, March 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Conagra Brands currently has an average rating of “Hold” and a consensus price target of $41.67.
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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