Conagra Brands Inc (CAG) Shares Sold by Elite Wealth Management Inc.

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Elite Wealth Management Inc. trimmed its stake in Conagra Brands Inc (NYSE:CAG) by 13.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 62,379 shares of the company’s stock after selling 10,000 shares during the period. Conagra Brands comprises 0.5% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 14th biggest holding. Elite Wealth Management Inc.’s holdings in Conagra Brands were worth $2,119,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd raised its holdings in shares of Conagra Brands by 30.9% during the 2nd quarter. IFM Investors Pty Ltd now owns 17,774 shares of the company’s stock worth $635,000 after buying an additional 4,193 shares in the last quarter. CENTRAL TRUST Co raised its holdings in shares of Conagra Brands by 28.6% during the 2nd quarter. CENTRAL TRUST Co now owns 23,610 shares of the company’s stock worth $844,000 after buying an additional 5,246 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Conagra Brands by 24.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 240,180 shares of the company’s stock worth $8,579,000 after buying an additional 47,760 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Conagra Brands by 6.7% during the 2nd quarter. Raymond James Trust N.A. now owns 30,596 shares of the company’s stock worth $1,093,000 after buying an additional 1,931 shares in the last quarter. Finally, Pennsylvania Trust Co raised its holdings in shares of Conagra Brands by 11.4% during the 2nd quarter. Pennsylvania Trust Co now owns 39,208 shares of the company’s stock worth $1,401,000 after buying an additional 4,000 shares in the last quarter. 81.97% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Sean Connolly purchased 14,184 shares of Conagra Brands stock in a transaction on Friday, October 12th. The shares were purchased at an average price of $35.25 per share, for a total transaction of $499,986.00. Following the transaction, the insider now owns 217,607 shares of the company’s stock, valued at approximately $7,670,646.75. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David S. Marberger purchased 2,836 shares of Conagra Brands stock in a transaction on Friday, October 12th. The stock was bought at an average price of $35.25 per share, for a total transaction of $99,969.00. Following the transaction, the chief financial officer now directly owns 12,721 shares in the company, valued at approximately $448,415.25. The disclosure for this purchase can be found here. Insiders have purchased a total of 24,112 shares of company stock worth $849,948 in the last 90 days. 0.92% of the stock is currently owned by corporate insiders.

CAG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Conagra Brands from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, July 27th. Jefferies Financial Group set a $44.00 price target on Conagra Brands and gave the stock a “buy” rating in a report on Friday, October 5th. Goldman Sachs Group reissued a “buy” rating and set a $42.00 price target on shares of Conagra Brands in a report on Wednesday, October 24th. Zacks Investment Research raised Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 price target for the company in a report on Wednesday, August 29th. Finally, Credit Suisse Group initiated coverage on Conagra Brands in a report on Wednesday, October 31st. They set a “neutral” rating and a $40.00 price target for the company. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $42.70.

Shares of CAG stock opened at $35.06 on Wednesday. The firm has a market cap of $13.71 billion, a P/E ratio of 16.62, a PEG ratio of 2.03 and a beta of 0.17. Conagra Brands Inc has a twelve month low of $32.81 and a twelve month high of $39.43. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.39 and a current ratio of 0.84.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.85 billion. Conagra Brands had a return on equity of 22.50% and a net margin of 10.47%. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.46 EPS. Equities research analysts expect that Conagra Brands Inc will post 2.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 17th will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Tuesday, October 16th. This represents a $0.85 dividend on an annualized basis and a yield of 2.42%. Conagra Brands’s dividend payout ratio is currently 40.28%.

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About Conagra Brands

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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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