A number of other equities analysts also recently weighed in on CAG. UBS Group set a $32.00 price target on Conagra Brands and gave the stock a buy rating in a research report on Friday, June 28th. Citigroup upped their price target on Conagra Brands from $34.00 to $35.00 and gave the stock a buy rating in a research report on Friday, September 27th. Credit Suisse Group reiterated a hold rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Thursday, September 19th. Bank of America set a $35.00 price objective on Conagra Brands and gave the stock a buy rating in a research note on Friday, June 28th. Finally, Zacks Investment Research upgraded Conagra Brands from a sell rating to a hold rating and set a $29.00 price objective on the stock in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $33.64.
NYSE:CAG traded up $0.89 during trading hours on Wednesday, reaching $28.86. 4,490,500 shares of the stock were exchanged, compared to its average volume of 6,113,586. Conagra Brands has a twelve month low of $20.22 and a twelve month high of $37.60. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.11 and a quick ratio of 0.40. The firm has a 50 day moving average of $29.17 and a 200 day moving average of $28.70. The stock has a market cap of $14.04 billion, a PE ratio of 14.36, a PEG ratio of 1.99 and a beta of 0.87.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be paid a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 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 sale, the director now owns 101,823 shares in the company, valued at approximately $2,964,067.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Thomas M. Mcgough sold 26,099 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total value of $809,069.00. Following the completion of the sale, the chief operating officer now owns 145,869 shares in the company, valued at approximately $4,521,939. The disclosure for this sale can be found here. In the last quarter, insiders have sold 82,146 shares of company stock worth $2,421,143. Company insiders own 0.84% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. North Star Investment Management Corp. bought a new stake in Conagra Brands in the 3rd quarter valued at $128,000. State of Alaska Department of Revenue raised its stake in Conagra Brands by 134.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 276,626 shares of the company’s stock valued at $8,485,000 after acquiring an additional 158,832 shares during the period. Private Trust Co. NA bought a new stake in Conagra Brands in the 3rd quarter valued at $313,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Conagra Brands by 4.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 94,123 shares of the company’s stock valued at $2,496,000 after acquiring an additional 3,626 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in Conagra Brands in the 2nd quarter valued at $400,000. Institutional investors and hedge funds own 86.65% of the company’s stock.
About Conagra Brands
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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