Burleson & Company LLC bought a new position in Conagra Brands, Inc. (NYSE:CAG) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,809 shares of the company’s stock, valued at approximately $68,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CAG. Oppenheimer & Co. Inc. lifted its holdings in Conagra Brands by 1.0% during the fourth quarter. Oppenheimer & Co. Inc. now owns 30,103 shares of the company’s stock worth $1,092,000 after acquiring an additional 284 shares in the last quarter. First Bank & Trust lifted its position in Conagra Brands by 12.5% in the 1st quarter. First Bank & Trust now owns 2,583 shares of the company’s stock valued at $97,000 after acquiring an additional 286 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Conagra Brands by 0.4% in the 4th quarter. Orion Portfolio Solutions LLC now owns 71,416 shares of the company’s stock worth $2,590,000 after purchasing an additional 299 shares during the period. Rosenberg Matthew Hamilton grew its holdings in shares of Conagra Brands by 8.8% during the first quarter. Rosenberg Matthew Hamilton now owns 3,726 shares of the company’s stock worth $140,000 after buying an additional 300 shares in the last quarter. Finally, Resources Investment Advisors LLC. grew its stake in shares of Conagra Brands by 0.4% during the 4th quarter. Resources Investment Advisors LLC. now owns 72,231 shares of the company’s stock worth $2,391,000 after acquiring an additional 318 shares in the last quarter. 83.36% of the stock is currently owned by institutional investors.
Shares of NYSE:CAG opened at $37.17 on Friday. The business’s 50 day moving average is $37.77. Conagra Brands, Inc. has a 1 year low of $31.72 and a 1 year high of $39.34. The company has a quick ratio of 0.32, a current ratio of 0.80 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $17.84 billion, a P/E ratio of 15.30, a P/E/G ratio of 2.11 and a beta of 0.88.
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 2nd. Shareholders of record on Friday, April 30th were paid a dividend of $0.275 per share. The ex-dividend date was Thursday, April 29th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.96%. Conagra Brands’s payout ratio is presently 48.25%.
In related news, Director Jana Partners Llc sold 2,811,853 shares of the business’s stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $37.60, for a total transaction of $105,725,672.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Thomas M. Mcgough sold 50,000 shares of the company’s stock in a transaction dated Friday, April 16th. The stock was sold at an average price of $37.51, for a total value of $1,875,500.00. Following the completion of the transaction, the chief operating officer now directly owns 106,341 shares of the company’s stock, valued at approximately $3,988,850.91. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,942,853 shares of company stock worth $110,641,396. Insiders own 2.60% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group boosted their target price on shares of Conagra Brands from $33.00 to $34.00 and gave the stock an “underperform” rating in a report on Tuesday, March 23rd. Royal Bank of Canada upped their price objective on Conagra Brands from $37.00 to $38.00 in a research note on Friday, April 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on Conagra Brands in a research note on Wednesday, April 21st. They set a “neutral” rating and a $42.00 target price for the company. Finally, Citigroup began coverage on shares of Conagra Brands in a research report on Tuesday, April 20th. They issued a “neutral” rating and a $42.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $38.22.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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