Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by Excalibur Management Corp

Excalibur Management Corp grew its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 18.5% in the 2nd quarter, Holdings Channel reports. The fund owned 14,394 shares of the company’s stock after acquiring an additional 2,250 shares during the period. Excalibur Management Corp’s holdings in Conagra Brands were worth $409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Chilton Capital Management LLC acquired a new stake in Conagra Brands during the 2nd quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in shares of Conagra Brands in the second quarter worth $25,000. Whittier Trust Co. raised its holdings in Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after acquiring an additional 836 shares in the last quarter. LRI Investments LLC bought a new position in Conagra Brands during the 1st quarter valued at $44,000. Finally, Security National Bank acquired a new position in Conagra Brands during the 4th quarter worth $48,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

NYSE CAG opened at $32.60 on Tuesday. The company has a 50-day moving average price of $30.56 and a two-hundred day moving average price of $29.92. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $33.24. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of 44.66, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period in the prior year, the company posted $0.62 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Analysts forecast that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were given a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.29%. Conagra Brands’s dividend payout ratio is presently 191.78%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CAG shares. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Stifel Nicolaus lowered their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, July 12th. Evercore ISI reduced their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Barclays reduced their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.78.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at $4,890,108.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by insiders.

Conagra Brands Company 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.