Conagra Brands, Inc. (NYSE:CAG) Shares Sold by IFP Advisors Inc

Posted by on Jul 7th, 2023

IFP Advisors Inc cut its stake in Conagra Brands, Inc. (NYSE:CAG – Free Report) by 93.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,450 shares of the company’s stock after selling 115,467 shares during the quarter. IFP Advisors Inc’s holdings in Conagra Brands were worth $275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Utah Retirement Systems lifted its stake 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 during the last quarter. NorthRock Partners LLC acquired a new position in shares of Conagra Brands in the 4th quarter valued at $261,000. Picton Mahoney Asset Management acquired a new position in shares of Conagra Brands in the 4th quarter valued at $66,000. International Assets Investment Management LLC acquired a new position in shares of Conagra Brands in the 4th quarter valued at $970,000. Finally, Geode Capital Management LLC lifted its stake in shares of Conagra Brands by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 9,682,171 shares of the company’s stock valued at $374,019,000 after purchasing an additional 217,370 shares during the last quarter. 88.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Conagra Brands

In other news, EVP Charisse Brock sold 7,036 shares of the firm’s stock in a transaction dated Friday, April 14th. The stock was sold at an average price of $37.04, for a total transaction of $260,613.44. Following the sale, the executive vice president now owns 94,802 shares of the company’s stock, valued at approximately $3,511,466.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CAG. Stifel Nicolaus began coverage on Conagra Brands in a research note on Thursday, April 13th. They set a “hold” rating and a $43.00 target price on the stock. StockNews.com lowered Conagra Brands from a “buy” rating to a “hold” rating in a research note on Saturday, May 20th. Bank of America increased their target price on Conagra Brands from $40.00 to $42.00 in a research note on Thursday, April 6th. Jefferies Financial Group lowered Conagra Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $46.00 to $38.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on Conagra Brands from $43.00 to $39.00 in a research note on Thursday. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.38.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $33.43 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.32 and a current ratio of 0.97. Conagra Brands, Inc. has a fifty-two week low of $32.30 and a fifty-two week high of $41.30. The firm has a market capitalization of $15.94 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.89 and a beta of 0.54. The stock’s 50-day simple moving average is $35.30 and its 200-day simple moving average is $36.67.

Conagra Brands (NYSE:CAG – Free Report) last issued its earnings results on Wednesday, April 5th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.12. Conagra Brands had a return on equity of 15.34% and a net margin of 6.59%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same quarter last year, the company earned $0.58 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.75 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Friday, April 28th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, April 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 79.04%.

Conagra Brands Profile

(Free Report)

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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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