Dupont Capital Management Corp lessened its holdings in shares of Conagra Brands Inc. (NYSE:CAG) by 96.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,101 shares of the company’s stock after selling 117,160 shares during the quarter. Dupont Capital Management Corp’s holdings in Conagra Brands were worth $138,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer Asset Management Inc. bought a new stake in shares of Conagra Brands during the 1st quarter valued at about $110,000. Sun Life Financial INC lifted its position in Conagra Brands by 32,666.7% in the 2nd quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after buying an additional 2,940 shares during the last quarter. Bronfman E.L. Rothschild L.P. lifted its position in Conagra Brands by 143.7% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after buying an additional 1,851 shares during the last quarter. Alpha Windward LLC lifted its position in Conagra Brands by 5.8% in the 2nd quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock worth $128,000 after buying an additional 196 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Conagra Brands by 53.3% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 3,833 shares of the company’s stock worth $137,000 after buying an additional 1,333 shares during the last quarter. Hedge funds and other institutional investors own 79.33% of the company’s stock.
In other news, EVP Colleen Batcheler sold 133,869 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $34.28, for a total transaction of $4,589,029.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is currently owned by insiders.
A number of research firms recently weighed in on CAG. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. Royal Bank Of Canada restated a “buy” rating and issued a $45.00 target price on shares of Conagra Brands in a research report on Friday, September 29th. Morgan Stanley dropped their target price on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, September 25th. Credit Suisse Group restated a “hold” rating and issued a $39.00 target price on shares of Conagra Brands in a research report on Friday, August 11th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $40.00 target price on shares of Conagra Brands in a research report on Tuesday, October 3rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Conagra Brands has a consensus rating of “Hold” and an average target price of $40.03.
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Conagra Brands Inc. (NYSE CAG) opened at $34.84 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.03 and a quick ratio of 0.51. The company has a market capitalization of $14,215.73, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 2.63 and a beta of 0.32. Conagra Brands Inc. has a 12 month low of $32.16 and a 12 month high of $41.68.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The business had revenue of $1.80 billion for 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 business’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. equities analysts predict that Conagra Brands Inc. will post 1.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, October 13th will be paid a dividend of $0.2125 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.85 annualized dividend and a dividend yield of 2.44%. Conagra Brands’s dividend payout ratio (DPR) is presently 60.28%.
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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