Stonebridge Capital Advisors LLC held its position in Conagra Brands Inc. (NYSE:CAG) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,400 shares of the company’s stock at the end of the 2nd quarter. Stonebridge Capital Advisors LLC’s holdings in Conagra Brands were worth $229,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new stake in Conagra Brands in the first quarter worth about $110,000. Sun Life Financial INC raised its holdings in Conagra Brands by 32,666.7% in the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after purchasing an additional 2,940 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in Conagra Brands by 143.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after purchasing an additional 1,851 shares in the last quarter. Alpha Windward LLC raised its holdings in Conagra Brands by 5.8% in the second quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock worth $128,000 after purchasing an additional 196 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in Conagra Brands by 53.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,833 shares of the company’s stock worth $137,000 after purchasing an additional 1,333 shares in the last quarter. 79.75% of the stock is owned by institutional investors.
Conagra Brands Inc. (NYSE CAG) traded up 0.074% during trading on Wednesday, hitting $33.745. 458,270 shares of the stock traded hands. The company has a market cap of $13.78 billion, a P/E ratio of 24.277 and a beta of 0.31. Conagra Brands Inc. has a 12 month low of $32.16 and a 12 month high of $48.86. The company’s 50 day moving average price is $33.77 and its 200 day moving average price is $36.36.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, September 28th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.06. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The firm’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, equities research analysts anticipate that Conagra Brands Inc. will post $1.88 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 13th will be paid a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, October 30th. Conagra Brands’s payout ratio is 60.28%.
Conagra Brands announced that its board has authorized a stock repurchase program on Thursday, June 29th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of equities analysts have commented on the stock. UBS AG reiterated a “sell” rating and issued a $33.00 target price (down from $35.00) on shares of Conagra Brands in a report on Friday, June 30th. Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Jefferies Group LLC reiterated a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a report on Tuesday, October 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $45.00 target price on shares of Conagra Brands in a report on Friday, September 29th. Finally, BidaskClub upgraded shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $41.31.
About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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