Conagra Brands Inc (NYSE:CAG) Shares Purchased by Private Advisor Group LLC
Private Advisor Group LLC raised its stake in Conagra Brands Inc (NYSE:CAG) by 18.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,464 shares of the company’s stock after acquiring an additional 10,668 shares during the period. Private Advisor Group LLC’s holdings in Conagra Brands were worth $1,842,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Berman Capital Advisors LLC increased its holdings in Conagra Brands by 86.2% in the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock valued at $25,000 after buying an additional 444 shares in the last quarter. CSat Investment Advisory L.P. boosted its holdings in shares of Conagra Brands by 101.4% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,176 shares of the company’s stock valued at $33,000 after purchasing an additional 592 shares during the last quarter. Kavar Capital Partners LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at $34,000. Coastal Investment Advisors Inc. increased its stake in Conagra Brands by 4,160.0% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 1,704 shares of the company’s stock worth $46,000 after buying an additional 1,664 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in Conagra Brands during the 1st quarter worth $51,000. Institutional investors own 86.65% of the company’s stock.
In other Conagra Brands news, Director Ruth Ann Marshall sold 3,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $28.45, for a total transaction of $85,350.00. Following the sale, the director now owns 102,387 shares of the company’s stock, valued at approximately $2,912,910.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Craig P. Omtvedt acquired 25,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $26.73 per share, for a total transaction of $668,250.00. The disclosure for this purchase can be found here. Insiders have sold a total of 59,047 shares of company stock valued at $1,693,074 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.
Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, June 27th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.66 billion. Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The company’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.50 EPS. On average, research analysts predict that Conagra Brands Inc will post 2.11 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 1st will be given a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.85%. Conagra Brands’s dividend payout ratio (DPR) is currently 42.29%.
Several research analysts have recently commented on CAG shares. UBS Group set a $32.00 price target on shares of Conagra Brands and gave the company a “buy” rating in a report on Friday, June 28th. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 target price for the company in a research report on Monday, July 8th. Citigroup decreased their target price on shares of Conagra Brands from $36.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Credit Suisse Group reissued a “hold” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday. Finally, Bank of America set a $35.00 target price on shares of Conagra Brands and gave the stock a “buy” rating in a research report on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. Conagra Brands has an average rating of “Hold” and an average target price of $33.27.
Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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