Nissay Asset Management Corp Japan ADV lowered its stake in Conagra Brands, Inc. (NYSE:CAG) by 2.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 49,374 shares of the company’s stock after selling 1,168 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Conagra Brands were worth $1,856,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Strs Ohio lifted its position in Conagra Brands by 1,557.6% in the first quarter. Strs Ohio now owns 90,457 shares of the company’s stock valued at $3,401,000 after purchasing an additional 85,000 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Conagra Brands by 127.3% in the first quarter. DekaBank Deutsche Girozentrale now owns 867,800 shares of the company’s stock valued at $33,221,000 after purchasing an additional 486,054 shares during the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Conagra Brands during the fourth quarter valued at approximately $593,000. Toronto Dominion Bank increased its stake in shares of Conagra Brands by 3.8% during the fourth quarter. Toronto Dominion Bank now owns 502,021 shares of the company’s stock valued at $18,203,000 after buying an additional 18,383 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Conagra Brands by 36.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 941,336 shares of the company’s stock valued at $35,395,000 after buying an additional 249,255 shares during the period. Hedge funds and other institutional investors own 83.36% of the company’s stock.
In other news, Director Thomas K. Brown sold 11,000 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $37.54, for a total value of $412,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jana Partners Llc sold 2,811,853 shares of the firm’s stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $37.60, for a total value of $105,725,672.80. The disclosure for this sale can be found here. Insiders sold a total of 2,942,853 shares of company stock valued at $110,641,396 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, April 7th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.01. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Conagra Brands had a return on equity of 16.95% and a net margin of 10.15%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. Equities analysts predict that Conagra Brands, Inc. will post 2.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 2nd. Stockholders of record on Friday, April 30th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Thursday, April 29th. Conagra Brands’s payout ratio is 48.25%.
Several research firms have commented on CAG. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell began coverage on Conagra Brands in a report on Wednesday, April 21st. They issued a “neutral” rating and a $42.00 target price on the stock. Citigroup initiated coverage on Conagra Brands in a report on Tuesday, April 20th. They set a “neutral” rating and a $42.00 price target on the stock. Royal Bank of Canada increased their target price on Conagra Brands from $37.00 to $38.00 in a report on Friday, April 9th. Finally, Credit Suisse Group increased their target price on Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a report on Tuesday, March 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $38.22.
Conagra Brands Company Profile
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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