Kestra Advisory Services LLC trimmed its stake in Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,597 shares of the company’s stock after selling 1,267 shares during the period. Kestra Advisory Services LLC’s holdings in Conagra Brands were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Securian Asset Management Inc. raised its holdings in shares of Conagra Brands by 0.7% in the 3rd quarter. Securian Asset Management Inc. now owns 39,071 shares of the company’s stock valued at $1,275,000 after purchasing an additional 286 shares in the last quarter. Czech National Bank raised its holdings in shares of Conagra Brands by 0.5% in the 4th quarter. Czech National Bank now owns 56,097 shares of the company’s stock valued at $2,171,000 after purchasing an additional 295 shares in the last quarter. Utah Retirement Systems raised its holdings in shares of Conagra Brands by 0.4% in the 3rd quarter. Utah Retirement Systems now owns 83,870 shares of the company’s stock valued at $2,737,000 after purchasing an additional 300 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Conagra Brands by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the company’s stock valued at $1,200,000 after purchasing an additional 300 shares in the last quarter. Finally, Brookstone Capital Management raised its holdings in shares of Conagra Brands by 1.0% in the 3rd quarter. Brookstone Capital Management now owns 29,861 shares of the company’s stock valued at $1,003,000 after purchasing an additional 302 shares in the last quarter. 81.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on CAG. Evercore ISI boosted their price target on shares of Conagra Brands from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Conagra Brands from $35.00 to $38.00 in a research note on Thursday, April 6th. Morgan Stanley reduced their price objective on shares of Conagra Brands from $48.00 to $46.00 and set an “overweight” rating for the company in a research note on Thursday, April 6th. Credit Suisse Group boosted their price objective on shares of Conagra Brands from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, March 31st. Finally, UBS Group boosted their price objective on shares of Conagra Brands from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Conagra Brands has a consensus rating of “Hold” and an average price target of $41.00.
Conagra Brands Stock Performance
Conagra Brands (NYSE:CAG – Get Rating) last posted its quarterly earnings data on Wednesday, April 5th. The company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.12. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Conagra Brands had a net margin of 6.59% and a return on equity of 15.34%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. On average, research analysts predict that Conagra Brands, Inc. will post 2.77 earnings per share for the current year.
Conagra Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, April 28th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, April 27th. Conagra Brands’s dividend payout ratio is presently 79.04%.
Insiders Place Their Bets
In other Conagra Brands news, EVP Charisse Brock sold 7,036 shares of the company’s stock in a transaction on Friday, April 14th. The shares were sold at an average price of $37.04, for a total transaction of $260,613.44. Following the completion of the transaction, the executive vice president now directly owns 94,802 shares in the company, valued at $3,511,466.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Charisse Brock sold 7,036 shares of the stock in a transaction dated Friday, April 14th. The shares were sold at an average price of $37.04, for a total value of $260,613.44. Following the completion of the sale, the executive vice president now directly owns 94,802 shares in the company, valued at $3,511,466.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Thomas M. Mcgough sold 45,000 shares of the stock in a transaction dated Thursday, April 6th. The shares were sold at an average price of $38.66, for a total transaction of $1,739,700.00. Following the completion of the sale, the chief operating officer now owns 104,859 shares of the company’s stock, valued at $4,053,848.94. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.
Conagra Brands Profile
Conagra Brands, Inc engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks, Refrigerated and Frozen, International, and Foodservice. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.
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