CIBC Asset Management Inc decreased its position in shares of Conagra Brands Inc (NYSE:CAG) by 0.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,536 shares of the company’s stock after selling 348 shares during the quarter. CIBC Asset Management Inc’s holdings in Conagra Brands were worth $1,402,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Investors Research Corp bought a new stake in Conagra Brands during the first quarter worth about $28,000. Princeton Global Asset Management LLC bought a new stake in Conagra Brands during the fourth quarter worth about $26,000. Capital Investment Advisory Services LLC bought a new stake in Conagra Brands during the fourth quarter worth about $26,000. 1832 Asset Management L.P. bought a new stake in Conagra Brands during the fourth quarter worth about $28,000. Finally, Optimum Investment Advisors lifted its position in Conagra Brands by 335.7% during the first quarter. Optimum Investment Advisors now owns 1,307 shares of the company’s stock worth $36,000 after purchasing an additional 1,007 shares during the period. 83.55% of the stock is owned by institutional investors and hedge funds.
In other news, Director Ruth Ann Marshall sold 6,717 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $31.00, for a total value of $208,227.00. Following the completion of the transaction, the director now owns 99,897 shares of the company’s stock, valued at $3,096,807. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joie A. Gregor bought 10,000 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was bought at an average cost of $29.99 per share, with a total value of $299,900.00. Following the acquisition, the director now directly owns 145,440 shares of the company’s stock, valued at approximately $4,361,745.60. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by corporate insiders.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, March 21st. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.02. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.75 billion. Conagra Brands had a net margin of 6.99% and a return on equity of 16.40%. The business’s revenue for the quarter was up 35.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. As a group, analysts anticipate that Conagra Brands Inc will post 2.07 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, April 30th will be issued a $0.2125 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.98%. Conagra Brands’s dividend payout ratio (DPR) is currently 40.28%.
Several research firms recently weighed in on CAG. Morgan Stanley began coverage on shares of Conagra Brands in a research report on Monday. They set an “equal weight” rating and a $31.00 price objective for the company. SunTrust Banks began coverage on shares of Conagra Brands in a research report on Tuesday, May 14th. They set a “buy” rating and a $35.00 price objective for the company. Credit Suisse Group upped their price objective on shares of Conagra Brands from $27.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Bank of America reaffirmed a “buy” rating and set a $30.00 price objective on shares of Conagra Brands in a research report on Thursday, April 11th. Finally, ValuEngine raised shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $37.08.
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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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