CIBC Asset Management Inc Decreases Position in Conagra Brands Inc (CAG)

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.



CAG stock opened at $28.56 on Wednesday. The stock has a market capitalization of $14.13 billion, a PE ratio of 13.54, a P/E/G ratio of 1.75 and a beta of 0.81. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.31 and a quick ratio of 0.58. Conagra Brands Inc has a 12 month low of $20.22 and a 12 month high of $39.43.

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.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Dakota Financial News and is the sole property of of Dakota Financial News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://dakotafinancialnews.com/2019/05/22/cibc-asset-management-inc-decreases-position-in-conagra-brands-inc-cag.html.

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.

Further Reading: What strategies should day traders use to execute a trade?

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

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.