Guardian Investment Management decreased its position in Conagra Brands Inc (NYSE:CAG) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,050 shares of the company’s stock after selling 1,600 shares during the period. Guardian Investment Management’s holdings in Conagra Brands were worth $823,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Cleararc Capital Inc. purchased a new stake in shares of Conagra Brands during the first quarter worth $225,000. Dynamic Capital Management Ltd purchased a new stake in shares of Conagra Brands during the second quarter worth $271,000. IFG Advisory LLC purchased a new stake in shares of Conagra Brands during the second quarter worth $233,000. Mn Services Vermogensbeheer B.V. lifted its position in shares of Conagra Brands by 200.8% during the second quarter. Mn Services Vermogensbeheer B.V. now owns 247,757 shares of the company’s stock worth $6,571,000 after acquiring an additional 165,400 shares in the last quarter. Finally, M Holdings Securities Inc. purchased a new stake in shares of Conagra Brands during the first quarter worth $721,000. Institutional investors and hedge funds own 86.65% of the company’s stock.
Several equities research analysts have issued reports on CAG shares. UBS Group set a $32.00 target price on Conagra Brands and gave the stock a “buy” rating in a research report on Friday, June 28th. Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $33.00 to $31.00 in a research report on Friday, September 6th. Evercore ISI started coverage on Conagra Brands in a research report on Tuesday, June 11th. They set an “outperform” rating and a $36.00 target price on the stock. Bank of America set a $35.00 target price on Conagra Brands and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, Citigroup lowered their price objective on Conagra Brands from $36.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. Conagra Brands presently has an average rating of “Hold” and a consensus target price of $33.27.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, June 27th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The company’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Research analysts expect that Conagra Brands Inc will post 2.11 EPS for the current 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 paid a $0.2125 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.85 dividend on an annualized basis and a yield of 2.82%. Conagra Brands’s dividend payout ratio is presently 42.29%.
In related news, Director Ruth Ann Marshall sold 2,436 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $29.11, for a total value of $70,911.96. Following the transaction, the director now owns 101,823 shares of the company’s stock, valued at $2,964,067.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Colleen Batcheler sold 25,458 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $30.00, for a total value of $763,740.00. Following the completion of the transaction, the executive vice president now directly owns 169,873 shares in the company, valued at approximately $5,096,190. The disclosure for this sale can be found here. In the last three months, insiders sold 59,047 shares of company stock worth $1,693,074. 0.84% of the stock is owned by insiders.
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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