Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Vestmark Advisory Solutions Inc.

Posted by Defense World Staff on Aug 18th, 2023

Vestmark Advisory Solutions Inc. boosted its stake in shares of Conagra Brands, Inc. (NYSE:CAG – Free Report) by 29.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,382 shares of the company’s stock after purchasing an additional 2,135 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Conagra Brands were worth $352,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management purchased a new position in Conagra Brands in the 4th quarter valued at about $66,000. State of Michigan Retirement System lifted its stake in Conagra Brands by 0.5% in the 1st quarter. State of Michigan Retirement System now owns 151,401 shares of the company’s stock valued at $5,687,000 after buying an additional 700 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 buying an additional 217,370 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in Conagra Brands by 32.8% in the 1st quarter. Wealthfront Advisers LLC now owns 159,587 shares of the company’s stock valued at $5,994,000 after buying an additional 39,379 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Conagra Brands by 1,393.2% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,125,958 shares of the company’s stock valued at $42,291,000 after buying an additional 1,050,552 shares in the last quarter. 88.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CAG. JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $43.00 to $39.00 in a research note on Thursday, July 6th. Morgan Stanley downgraded shares of Conagra Brands from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $46.00 to $37.00 in a report on Monday, July 17th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Conagra Brands from $36.00 to $35.00 in a report on Friday, July 14th. Stifel Nicolaus cut their price objective on shares of Conagra Brands from $43.00 to $36.00 in a report on Friday, July 14th. Finally, Barclays cut their price objective on shares of Conagra Brands from $42.00 to $39.00 in a report on Friday, July 14th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $38.25.

Read Our Latest Stock Report on Conagra Brands

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 75,522 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $33.07, for a total value of $2,497,512.54. Following the completion of the transaction, the chief operating officer now owns 157,125 shares of the company’s stock, valued at approximately $5,196,123.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.88% of the stock is currently owned by corporate insiders.

Conagra Brands Stock Down 0.3 %

Conagra Brands stock opened at $29.95 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.26 and a current ratio of 0.76. Conagra Brands, Inc. has a fifty-two week low of $29.85 and a fifty-two week high of $41.30. The company has a market capitalization of $14.29 billion, a PE ratio of 21.09, a price-to-earnings-growth ratio of 3.02 and a beta of 0.54. The firm has a 50 day moving average price of $33.04 and a 200 day moving average price of $35.30.

Conagra Brands (NYSE:CAG – Get Free Report) last issued its quarterly earnings results on Thursday, July 13th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. Conagra Brands had a net margin of 5.57% and a return on equity of 15.19%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter last year, the company posted $0.65 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Research analysts expect that Conagra Brands, Inc. will post 2.73 earnings per share for the current year.

Conagra Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Monday, July 31st will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Friday, July 28th. This is a boost from Conagra Brands’s previous quarterly dividend of $0.33. Conagra Brands’s dividend payout ratio (DPR) is currently 98.59%.

About Conagra Brands

(Free Report)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.