Skandinaviska Enskilda Banken AB publ raised its holdings in Conagra Brands Inc (NYSE:CAG) by 7.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,519 shares of the company’s stock after purchasing an additional 6,000 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Conagra Brands were worth $2,348,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of CAG. Geode Capital Management LLC raised its stake in shares of Conagra Brands by 36.8% in the 4th quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock valued at $146,052,000 after acquiring an additional 1,840,875 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Conagra Brands in the 1st quarter worth approximately $348,000. Quadrant Capital Group LLC increased its position in Conagra Brands by 77.7% in the 1st quarter. Quadrant Capital Group LLC now owns 3,500 shares of the company’s stock worth $94,000 after buying an additional 1,530 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Conagra Brands by 20.6% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 28,088 shares of the company’s stock worth $779,000 after purchasing an additional 4,805 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its holdings in shares of Conagra Brands by 0.9% during the 1st quarter. First Republic Investment Management Inc. now owns 55,374 shares of the company’s stock worth $1,536,000 after purchasing an additional 496 shares in the last quarter. 87.22% of the stock is currently owned by hedge funds and other institutional investors.
CAG stock traded up $0.14 during trading on Wednesday, hitting $28.64. The company had a trading volume of 29,206 shares, compared to its average volume of 3,415,562. The company has a fifty day moving average price of $28.62 and a two-hundred day moving average price of $27.76. The company has a current ratio of 1.28, a quick ratio of 0.54 and a debt-to-equity ratio of 1.43. The company has a market cap of $13.79 billion, a P/E ratio of 14.26, a P/E/G ratio of 1.92 and a beta of 0.85. Conagra Brands Inc has a fifty-two week low of $20.22 and a fifty-two week high of $38.43.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Tuesday, July 30th were paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend was Monday, July 29th. Conagra Brands’s dividend payout ratio is currently 42.29%.
Several analysts have recently weighed in on CAG shares. Morgan Stanley started coverage on Conagra Brands in a report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price objective on the stock. Citigroup decreased their price objective on Conagra Brands from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, June 28th. SunTrust Banks started coverage on Conagra Brands in a report on Tuesday, May 14th. They set a “buy” rating and a $35.00 price objective on the stock. Evercore ISI started coverage on Conagra Brands in a report on Tuesday, June 11th. They set an “outperform” rating and a $36.00 price objective on the stock. Finally, Bank of America set a $35.00 price objective on Conagra Brands and gave the stock a “buy” rating in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $33.45.
In other Conagra Brands news, Director Richard H. Lenny sold 20,153 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $27.27, for a total value of $549,572.31. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ruth Ann Marshall sold 3,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $27.00, for a total value of $81,000.00. Following the completion of the transaction, the director now directly owns 102,387 shares in the company, valued at approximately $2,764,449. The disclosure for this sale can be found here. In the last three months, insiders sold 33,589 shares of company stock worth $929,334. Insiders own 0.84% of the company’s stock.
Conagra Brands Company 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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