Cerity Partners LLC Boosts Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Posted by Defense World Staff on Sep 3rd, 2023

Cerity Partners LLC grew its position in shares of Conagra Brands, Inc. (NYSE:CAG – Free Report) by 30.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,825 shares of the company’s stock after buying an additional 5,990 shares during the quarter. Cerity Partners LLC’s holdings in Conagra Brands were worth $970,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Conagra Brands by 1.5% during the first quarter. Vanguard Group Inc. now owns 54,738,710 shares of the company’s stock valued at $1,837,578,000 after buying an additional 786,816 shares during the last quarter. State Street Corp grew its holdings in shares of Conagra Brands by 12.8% during the first quarter. State Street Corp now owns 23,556,766 shares of the company’s stock valued at $790,801,000 after buying an additional 2,671,720 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Conagra Brands by 10.6% during the first quarter. American Century Companies Inc. now owns 10,944,425 shares of the company’s stock valued at $411,069,000 after buying an additional 1,053,165 shares during the last quarter. Geode Capital Management LLC lifted its position in Conagra Brands by 2.3% during the fourth 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 period. Finally, Federated Hermes Inc. lifted its position in Conagra Brands by 25.1% during the first quarter. Federated Hermes Inc. now owns 9,033,184 shares of the company’s stock valued at $339,286,000 after purchasing an additional 1,810,053 shares during the period. Hedge funds and other institutional investors own 84.27% of the company’s stock.

Analyst Ratings Changes

CAG has been the topic of a number of research analyst reports. TheStreet downgraded shares of Conagra Brands from a “b” rating to a “c+” rating in a research report on Thursday, July 13th. Barclays lowered their price objective on shares of Conagra Brands from $42.00 to $39.00 in a research report on Friday, July 14th. StockNews.com initiated coverage on shares of Conagra Brands in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Bank of America lowered their price objective on shares of Conagra Brands from $40.00 to $38.00 in a research report on Friday, July 14th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Conagra Brands from $36.00 to $35.00 in a research report on Friday, July 14th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.08.

Read Our Latest Research Report on CAG

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 75,522 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $33.07, for a total transaction of $2,497,512.54. Following the completion of the transaction, the chief operating officer now directly owns 157,125 shares of the company’s stock, valued at $5,196,123.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $29.32 on Friday. The firm has a fifty day moving average price of $32.03 and a 200-day moving average price of $34.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.76 and a quick ratio of 0.26. The stock has a market cap of $13.99 billion, a PE ratio of 20.65, a price-to-earnings-growth ratio of 3.05 and a beta of 0.54. Conagra Brands, Inc. has a 1 year low of $29.27 and a 1 year high of $41.30.

Conagra Brands (NYSE:CAG – Get Free Report) last announced its quarterly earnings data on Thursday, July 13th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3 billion. Conagra Brands had a net margin of 5.57% and a return on equity of 15.19%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 earnings per share. Equities analysts anticipate that Conagra Brands, Inc. will post 2.72 earnings per share for the current fiscal year.

Conagra Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Monday, July 31st were paid a $0.35 dividend. The ex-dividend date of this dividend was Friday, July 28th. This is a boost from Conagra Brands’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.77%. Conagra Brands’s dividend payout ratio is 98.59%.

Conagra Brands Company Profile

(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.