WINTON GROUP Ltd cut its position in shares of Conagra Brands Inc. (NYSE:CAG) by 53.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,848 shares of the company’s stock after selling 24,278 shares during the quarter. WINTON GROUP Ltd’s holdings in Conagra Brands were worth $746,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of CAG. 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 purchasing an additional 332,520 shares during the last quarter. 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 purchasing an additional 11,681 shares during the last quarter. Krilogy Financial LLC boosted its position in Conagra Brands by 7.7% during the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after purchasing an additional 370 shares during the last quarter. Financial Partners Capital Management LLC boosted its position in Conagra Brands by 14.3% during the second quarter. Financial Partners Capital Management LLC now owns 30,483 shares of the company’s stock valued at $1,090,000 after purchasing an additional 3,809 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in Conagra Brands by 8.1% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 135,971 shares of the company’s stock valued at $4,863,000 after purchasing an additional 10,132 shares during the last quarter. Institutional investors and hedge funds own 79.73% of the company’s stock.
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Several brokerages recently commented on CAG. Credit Suisse Group reissued a “hold” rating and set a $39.00 price target on shares of Conagra Brands in a research report on Friday, August 11th. BidaskClub raised Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. UBS AG reissued a “sell” rating and set a $33.00 price target (down from $35.00) on shares of Conagra Brands in a research report on Friday, June 30th. Morgan Stanley reduced their price target on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, September 25th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $40.00 price target on shares of Conagra Brands in a research report on Tuesday, October 3rd. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $40.24.
Shares of Conagra Brands Inc. (CAG) opened at 33.91 on Friday. The stock has a 50 day moving average price of $34.00 and a 200-day moving average price of $36.07. Conagra Brands Inc. has a 52-week low of $32.16 and a 52-week high of $41.68. The firm has a market capitalization of $13.85 billion, a PE ratio of 24.38 and a beta of 0.31.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, September 28th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. The business had revenue of $1.80 billion for the quarter, compared to the consensus estimate of $1.79 billion. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. Conagra Brands’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 earnings per share. Equities analysts forecast that Conagra Brands Inc. will post $1.88 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Friday, October 13th will be given a dividend of $0.2125 per share. The ex-dividend date is Monday, October 30th. This represents a $0.85 annualized dividend and a dividend yield of 2.51%. Conagra Brands’s dividend payout ratio is currently 60.28%.
Conagra Brands declared that its board has authorized a stock repurchase program on Thursday, June 29th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total transaction of $4,589,029.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.79% of the company’s stock.
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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