Keybank National Association OH grew its holdings in Conagra Brands Inc (NYSE:CAG) by 11.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,019 shares of the company’s stock after purchasing an additional 9,152 shares during the period. Keybank National Association OH’s holdings in Conagra Brands were worth $2,414,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Berman Capital Advisors LLC increased its holdings in shares of Conagra Brands by 86.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock valued at $25,000 after purchasing an additional 444 shares during the period. Investors Research Corp bought a new stake in shares of Conagra Brands in the 1st quarter valued at approximately $28,000. Ellis Investment Partners LLC bought a new stake in shares of Conagra Brands in the 1st quarter valued at approximately $33,000. CSat Investment Advisory L.P. grew its stake 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 buying an additional 592 shares in the last quarter. Finally, Optimum Investment Advisors grew its stake in shares of Conagra Brands by 335.7% in the 1st quarter. Optimum Investment Advisors now owns 1,307 shares of the company’s stock valued at $36,000 after buying an additional 1,007 shares in the last quarter. Institutional investors own 88.13% of the company’s stock.
Several equities research analysts recently commented on CAG shares. Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Monday, July 8th. Bank of America set a $35.00 price target on Conagra Brands and gave the company a “buy” rating in a research note on Friday, June 28th. SunTrust Banks started coverage on Conagra Brands in a research note on Tuesday, May 14th. They issued a “buy” rating and a $35.00 price target for the company. Morgan Stanley started coverage on Conagra Brands in a research note on Monday, May 20th. They issued an “equal weight” rating and a $31.00 price target for the company. Finally, Citigroup lowered their price target on Conagra Brands from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. Conagra Brands presently has a consensus rating of “Buy” and a consensus price target of $34.42.
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 company had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.66 billion. Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.50 EPS. As a group, research analysts forecast that Conagra Brands Inc will post 2.11 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Tuesday, July 30th will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.85 dividend on an annualized basis and a yield of 2.89%. Conagra Brands’s payout ratio is currently 42.29%.
In other Conagra Brands news, Director Richard H. Lenny sold 20,153 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $27.27, for a total transaction of $549,572.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Craig P. Omtvedt bought 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, with a total value of $668,250.00. The disclosure for this purchase can be found here. Insiders have sold 33,589 shares of company stock valued at $929,334 in the last ninety days. Company insiders own 0.92% of the company’s stock.
Conagra Brands Company 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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