Bell Bank purchased a new stake in Conagra Brands Inc (NYSE:CAG) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 67,096 shares of the company’s stock, valued at approximately $1,861,000.
A number of other hedge funds also recently bought and sold shares of CAG. Capital Investment Advisory Services LLC purchased a new position in shares of Conagra Brands in the 4th quarter valued at about $26,000. Princeton Global Asset Management LLC purchased a new position in shares of Conagra Brands in the 4th quarter valued at about $26,000. 1832 Asset Management L.P. purchased a new position in shares of Conagra Brands in the 4th quarter valued at about $28,000. Investors Research Corp purchased a new position in shares of Conagra Brands in the 1st quarter valued at about $28,000. Finally, Kaizen Advisory LLC increased its holdings in shares of Conagra Brands by 47.3% in the 4th quarter. Kaizen Advisory LLC now owns 1,380 shares of the company’s stock valued at $29,000 after acquiring an additional 443 shares during the last quarter. 88.58% of the stock is currently owned by institutional investors.
In other news, Director Joie A. Gregor purchased 10,000 shares of the stock in a transaction on Tuesday, April 16th. The stock was purchased at an average price of $29.99 per share, with a total value of $299,900.00. Following the completion of the transaction, the director now owns 145,440 shares in the company, valued at $4,361,745.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ruth Ann Marshall sold 6,717 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $31.00, for a total value of $208,227.00. Following the sale, the director now directly owns 99,897 shares of the company’s stock, valued at approximately $3,096,807. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, March 21st. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.02. Conagra Brands had a return on equity of 16.40% and a net margin of 6.99%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. As a group, research analysts predict that Conagra Brands Inc will post 2.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, April 30th were issued a $0.2125 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.85%. Conagra Brands’s dividend payout ratio (DPR) is 40.28%.
A number of research analysts have recently commented on CAG shares. Zacks Investment Research downgraded Conagra Brands from a “hold” rating to a “sell” rating in a report on Thursday, March 14th. Goldman Sachs Group set a $32.00 target price on Conagra Brands and gave the company a “buy” rating in a research note on Friday, March 22nd. Bank of America set a $30.00 price target on Conagra Brands and gave the company a “buy” rating in a report on Friday, March 22nd. Credit Suisse Group raised their price target on Conagra Brands from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, March 26th. Finally, ValuEngine raised Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $37.08.
Conagra Brands 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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