Sentry Investment Management LLC lowered its stake in Conagra Brands (NYSE:CAG) by 8.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,639 shares of the company’s stock after selling 2,839 shares during the quarter. Sentry Investment Management LLC’s holdings in Conagra Brands were worth $1,093,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of CAG. Vantage Investment Advisors LLC grew its stake in Conagra Brands by 625.7% during the 4th quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after purchasing an additional 2,578 shares in the last quarter. NuWave Investment Management LLC acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $114,000. Envestnet Asset Management Inc. grew its stake in Conagra Brands by 94.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the company’s stock valued at $149,000 after purchasing an additional 1,923 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $161,000. Finally, Strategic Financial Services Inc acquired a new stake in Conagra Brands during the 4th quarter valued at approximately $203,000. Institutional investors and hedge funds own 79.83% of the company’s stock.
A number of brokerages have weighed in on CAG. UBS raised their price objective on Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, March 23rd. JPMorgan Chase lowered their price objective on Conagra Brands from $44.00 to $41.00 and set an “overweight” rating for the company in a research note on Friday, March 23rd. Zacks Investment Research lowered Conagra Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Royal Bank of Canada restated a “buy” rating and set a $46.00 price objective on shares of Conagra Brands in a research note on Friday, March 23rd. Finally, Jefferies Group restated a “buy” rating and set a $44.00 price objective on shares of Conagra Brands in a research note on Thursday, March 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Conagra Brands currently has an average rating of “Hold” and an average price target of $41.67.
Shares of CAG opened at $37.37 on Tuesday. The company has a market capitalization of $14.79 billion, a PE ratio of 18.55, a PEG ratio of 2.25 and a beta of 0.28. The company has a quick ratio of 0.52, a current ratio of 1.03 and a debt-to-equity ratio of 0.85. Conagra Brands has a 52 week low of $32.16 and a 52 week high of $40.24.
Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, March 22nd. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2 billion. Conagra Brands had a return on equity of 21.08% and a net margin of 11.36%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. equities analysts expect that Conagra Brands will post 2.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Stockholders of record on Monday, April 30th will be given a $0.2125 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $0.85 annualized dividend and a dividend yield of 2.27%. Conagra Brands’s payout ratio is 48.85%.
In other news, SVP Robert G. Wise sold 5,908 shares of Conagra Brands stock in a transaction that occurred on Wednesday, April 4th. The stock was sold at an average price of $37.12, for a total value of $219,304.96. Following the completion of the transaction, the senior vice president now owns 22,781 shares in the company, valued at approximately $845,630.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ruth Ann Marshall sold 6,046 shares of Conagra Brands stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $35.86, for a total value of $216,809.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,046 shares of company stock valued at $885,695. Insiders own 0.79% 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.
Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.