Bridges Investment Management Inc. Purchases 1,448 Shares of Conagra Brands, Inc. (NYSE:CAG)

Bridges Investment Management Inc. boosted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 7.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,058 shares of the company’s stock after purchasing an additional 1,448 shares during the quarter. Bridges Investment Management Inc.’s holdings in Conagra Brands were worth $717,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CAG. Holistic Planning LLC acquired a new position in shares of Conagra Brands in the 3rd quarter valued at $229,000. CWA Asset Management Group LLC bought a new position in Conagra Brands during the third quarter worth about $202,000. Philip James Wealth Mangement LLC acquired a new position in Conagra Brands in the third quarter valued at about $481,000. AIA Group Ltd increased its holdings in shares of Conagra Brands by 19.6% in the third quarter. AIA Group Ltd now owns 13,856 shares of the company’s stock worth $451,000 after acquiring an additional 2,275 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Conagra Brands by 0.6% during the third quarter. Kornitzer Capital Management Inc. KS now owns 759,142 shares of the company’s stock worth $24,687,000 after purchasing an additional 4,888 shares during the period. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CAG. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Bank of America reduced their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Trading Up 0.5 %

NYSE CAG opened at $28.44 on Friday. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average of $30.67 and a 200-day moving average of $30.16. The company has a market cap of $13.57 billion, a PE ratio of 27.61, a PEG ratio of 2.98 and a beta of 0.34.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 EPS. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a yield of 4.92%. Conagra Brands’s dividend payout ratio is 135.92%.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.51% of the company’s stock.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.