New Jersey Better Educational Savings Trust Acquires 1,000 Shares of Conagra Brands Inc (CAG)

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New Jersey Better Educational Savings Trust lifted its holdings in Conagra Brands Inc (NYSE:CAG) by 5.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 18,000 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. New Jersey Better Educational Savings Trust’s holdings in Conagra Brands were worth $499,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CAG. Regent Investment Management LLC increased its stake in shares of Conagra Brands by 9.0% in the fourth quarter. Regent Investment Management LLC now owns 9,945 shares of the company’s stock worth $212,000 after buying an additional 820 shares during the period. Synovus Financial Corp increased its stake in shares of Conagra Brands by 15.1% in the fourth quarter. Synovus Financial Corp now owns 10,450 shares of the company’s stock worth $222,000 after buying an additional 1,373 shares during the period. Securian Asset Management Inc increased its stake in shares of Conagra Brands by 24.2% in the fourth quarter. Securian Asset Management Inc now owns 49,075 shares of the company’s stock worth $1,048,000 after buying an additional 9,574 shares during the period. Vanguard Group Inc increased its stake in shares of Conagra Brands by 0.8% in the third quarter. Vanguard Group Inc now owns 45,019,445 shares of the company’s stock worth $1,529,309,000 after buying an additional 362,347 shares during the period. Finally, Bank of Nova Scotia increased its stake in shares of Conagra Brands by 29.9% in the fourth quarter. Bank of Nova Scotia now owns 104,661 shares of the company’s stock worth $2,234,000 after buying an additional 24,063 shares during the period. Hedge funds and other institutional investors own 84.27% of the company’s stock.

In other Conagra Brands news, Director Joie A. Gregor bought 10,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were purchased at an average price of $29.99 per share, for a total transaction of $299,900.00. Following the acquisition, the director now owns 145,440 shares in the company, valued at approximately $4,361,745.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Ruth Ann Marshall sold 6,717 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $31.00, for a total transaction of $208,227.00. Following the sale, the director now owns 99,897 shares in the company, valued at approximately $3,096,807. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Several brokerages recently commented on CAG. Credit Suisse Group lifted their target price on shares of Conagra Brands from $27.00 to $30.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Bank of America reissued a “buy” rating and set a $30.00 price objective on shares of Conagra Brands in a research report on Thursday, April 11th. ValuEngine raised shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, March 26th. Finally, Goldman Sachs Group set a $32.00 price objective on shares of Conagra Brands and gave the company a “buy” rating in a research report on Friday, March 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. Conagra Brands currently has a consensus rating of “Buy” and an average price target of $37.90.

Conagra Brands stock traded up $0.04 during mid-day trading on Friday, reaching $29.99. 44,157 shares of the company traded hands, compared to its average volume of 7,772,169. The company has a current ratio of 1.31, a quick ratio of 0.58 and a debt-to-equity ratio of 1.49. The company has a market cap of $14.55 billion, a P/E ratio of 14.19, a PEG ratio of 2.23 and a beta of 0.81. Conagra Brands Inc has a 52-week low of $20.22 and a 52-week high of $39.43.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, March 21st. The company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.02. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.75 billion. Conagra Brands had a net margin of 6.99% and a return on equity of 16.40%. The company’s quarterly revenue was up 35.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. Analysts predict that Conagra Brands Inc will post 2.07 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 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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