Clifford Swan Investment Counsel LLC trimmed its position in shares of Conagra Brands (NYSE:CAG) by 28.1% during the first quarter, HoldingsChannel reports. The firm owned 26,266 shares of the company’s stock after selling 10,260 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Conagra Brands were worth $969,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CAG. Vantage Investment Advisors LLC lifted its position in Conagra Brands by 625.7% in the 4th quarter. Vantage Investment Advisors LLC now owns 2,990 shares of the company’s stock valued at $113,000 after acquiring an additional 2,578 shares in the last quarter. NuWave Investment Management LLC bought a new stake in Conagra Brands in the 4th quarter valued at $114,000. Envestnet Asset Management Inc. lifted its position in Conagra Brands by 94.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 3,954 shares of the company’s stock valued at $149,000 after acquiring an additional 1,923 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Conagra Brands in the 4th quarter valued at $161,000. Finally, Strategic Financial Services Inc bought a new stake in Conagra Brands in the 4th quarter valued at $203,000. 80.41% of the stock is currently owned by institutional investors.
Shares of CAG stock opened at $37.72 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.52 and a debt-to-equity ratio of 0.85. Conagra Brands has a 1 year low of $37.65 and a 1 year high of $37.83. The firm has a market capitalization of $15.14 billion, a price-to-earnings ratio of 18.99, a price-to-earnings-growth ratio of 2.31 and a beta of 0.28.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, March 22nd. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2 billion. During the same period in the previous year, the business earned $0.48 EPS. The company’s revenue was up .7% compared to the same quarter last year. research analysts expect that Conagra Brands will post 2.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 31st. Shareholders of record on Monday, April 30th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Friday, April 27th. This represents a $0.85 annualized dividend and a yield of 2.25%. Conagra Brands’s payout ratio is currently 48.85%.
In other Conagra Brands news, Director Ruth Ann Marshall sold 6,046 shares of Conagra Brands stock in a transaction on Monday, March 26th. The shares were sold at an average price of $35.86, for a total value of $216,809.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Robert G. Wise sold 5,908 shares of Conagra Brands stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $37.12, for a total transaction of $219,304.96. Following the completion of the sale, the senior vice president now owns 22,781 shares in the company, valued at $845,630.72. The disclosure for this sale can be found here. Insiders sold a total of 24,046 shares of company stock worth $885,695 over the last quarter. Company insiders own 0.79% of the company’s stock.
Several equities research analysts recently commented on CAG shares. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research report on Thursday, February 22nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Conagra Brands in a research report on Friday, March 23rd. Jefferies Group reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Conagra Brands in a research report on Thursday, March 22nd. UBS boosted their price objective on shares of Conagra Brands from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, March 23rd. Finally, JPMorgan Chase cut their price objective on shares of Conagra Brands from $44.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.67.
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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