Zweig DiMenna Associates LLC bought a new stake in shares of Conagra Brands Inc. (NYSE:CAG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 15,300 shares of the company’s stock, valued at approximately $516,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. IndexIQ Advisors LLC boosted its stake in Conagra Brands by 0.4% during the 2nd quarter. IndexIQ Advisors LLC now owns 9,828 shares of the company’s stock valued at $352,000 after purchasing an additional 36 shares during the last quarter. Conning Inc. boosted its stake in Conagra Brands by 0.6% during the 2nd quarter. Conning Inc. now owns 11,616 shares of the company’s stock valued at $415,000 after purchasing an additional 70 shares during the last quarter. Home Federal Bank of Tennessee boosted its stake in Conagra Brands by 1.5% during the 2nd quarter. Home Federal Bank of Tennessee now owns 10,185 shares of the company’s stock valued at $365,000 after purchasing an additional 155 shares during the last quarter. Synovus Financial Corp boosted its stake in Conagra Brands by 1.8% during the 2nd quarter. Synovus Financial Corp now owns 8,884 shares of the company’s stock valued at $318,000 after purchasing an additional 155 shares during the last quarter. Finally, Alpha Windward LLC boosted its stake in Conagra Brands by 5.8% during the 2nd quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock valued at $128,000 after purchasing an additional 196 shares during the last quarter. Institutional investors and hedge funds own 79.33% of the company’s stock.
Several analysts have commented on the company. Credit Suisse Group reiterated a “hold” rating and set a $39.00 target price on shares of Conagra Brands in a research note on Friday, August 11th. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $45.00 target price on shares of Conagra Brands in a research note on Friday, September 29th. Finally, Stifel Nicolaus upgraded Conagra Brands from a “hold” rating to a “buy” rating and increased their target price 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. Three analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.03.
Conagra Brands Inc. (CAG) traded up $0.11 during midday trading on Monday, hitting $34.91. The stock had a trading volume of 804,217 shares, compared to its average volume of 3,509,253. Conagra Brands Inc. has a 12-month low of $32.16 and a 12-month high of $41.68. The company has a market cap of $14,215.73, a PE ratio of 19.33, a price-to-earnings-growth ratio of 2.63 and a beta of 0.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.03 and a quick ratio of 0.51.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The company had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.79 billion. During the same period last year, the firm earned $0.37 EPS. Conagra Brands’s revenue for the quarter was down 4.8% compared to the same quarter last year. analysts expect that Conagra Brands Inc. will post 1.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 13th will be issued a $0.2125 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a yield of 2.44%. Conagra Brands’s dividend payout ratio is currently 60.28%.
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In related news, EVP Colleen Batcheler sold 133,869 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total value of $4,589,029.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.79% of the stock is currently owned by company insiders.
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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