Raymond James & Associates reduced its stake in Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,427,829 shares of the company’s stock after selling 24,338 shares during the quarter. Raymond James & Associates owned 0.30% of Conagra Brands worth $53,629,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CAG. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Conagra Brands by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 64,185 shares of the company’s stock valued at $2,155,000 after buying an additional 3,975 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Conagra Brands by 0.4% in the first quarter. Great West Life Assurance Co. Can now owns 309,389 shares of the company’s stock valued at $10,942,000 after buying an additional 1,186 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Conagra Brands by 3.7% in the first quarter. Synovus Financial Corp now owns 22,548 shares of the company’s stock valued at $758,000 after buying an additional 807 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of Conagra Brands by 19.8% in the first quarter. Blair William & Co. IL now owns 27,151 shares of the company’s stock valued at $911,000 after buying an additional 4,487 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Conagra Brands by 509.0% in the first quarter. Allianz Asset Management GmbH now owns 366,225 shares of the company’s stock valued at $12,294,000 after buying an additional 306,086 shares in the last quarter. 88.80% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CAG has been the topic of a number of analyst reports. Barclays decreased their price target on Conagra Brands from $44.00 to $42.00 in a research note on Friday, June 2nd. StockNews.com downgraded Conagra Brands from a “buy” rating to a “hold” rating in a research report on Saturday, May 20th. Deutsche Bank Aktiengesellschaft boosted their target price on Conagra Brands from $35.00 to $38.00 in a research report on Thursday, April 6th. UBS Group boosted their target price on Conagra Brands from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Finally, Bank of America boosted their target price on Conagra Brands from $40.00 to $42.00 in a research report on Thursday, April 6th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $41.08.
Conagra Brands Stock Performance
Conagra Brands (NYSE:CAG – Get Rating) last released its earnings results on Wednesday, April 5th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.64 by $0.12. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.08 billion. Conagra Brands had a return on equity of 15.34% and a net margin of 6.59%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, analysts predict that Conagra Brands, Inc. will post 2.76 earnings per share for the current fiscal year.
Conagra Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Friday, April 28th were paid a $0.33 dividend. The ex-dividend date was Thursday, April 27th. This represents a $1.32 annualized dividend and a yield of 3.85%. Conagra Brands’s payout ratio is currently 79.04%.
Insider Activity at Conagra Brands
In related news, COO Thomas M. Mcgough sold 45,000 shares of the company’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $38.66, for a total value of $1,739,700.00. Following the completion of the transaction, the chief operating officer now directly owns 104,859 shares in the company, valued at $4,053,848.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Conagra Brands news, COO Thomas M. Mcgough sold 45,000 shares of the company’s stock in a transaction dated Thursday, April 6th. The stock was 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 directly owns 104,859 shares in the company, valued at $4,053,848.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Charisse Brock sold 7,036 shares of the company’s stock in a transaction dated Friday, April 14th. The stock was sold at an average price of $37.04, for a total value of $260,613.44. Following the sale, the executive vice president now owns 94,802 shares of the company’s stock, valued at $3,511,466.08. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.
Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.
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