Wellington Shields Capital Management LLC lessened its position in Conagra Brands Inc. (NYSE:CAG) by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,130 shares of the company’s stock after selling 11,300 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in Conagra Brands were worth $3,311,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. Janus Henderson Group PLC lifted its position in shares of Conagra Brands by 10,072.6% in the second quarter. Janus Henderson Group PLC now owns 6,144,061 shares of the company’s stock valued at $219,711,000 after acquiring an additional 6,083,663 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Conagra Brands by 64.0% in the third quarter. American Century Companies Inc. now owns 11,938,659 shares of the company’s stock valued at $402,810,000 after acquiring an additional 4,660,867 shares in the last quarter. AJO LP lifted its position in shares of Conagra Brands by 757.3% in the second quarter. AJO LP now owns 3,118,724 shares of the company’s stock valued at $111,526,000 after acquiring an additional 2,754,930 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Conagra Brands by 49.8% in the second quarter. Alliancebernstein L.P. now owns 5,674,123 shares of the company’s stock valued at $202,907,000 after acquiring an additional 1,886,614 shares in the last quarter. Finally, Numeric Investors LLC lifted its position in shares of Conagra Brands by 75.2% in the second quarter. Numeric Investors LLC now owns 3,077,000 shares of the company’s stock valued at $110,034,000 after acquiring an additional 1,321,100 shares in the last quarter. Institutional investors and hedge funds own 79.33% of the company’s stock.
Conagra Brands Inc. (CAG) traded up $0.04 during trading hours on Tuesday, hitting $34.84. The company had a trading volume of 2,509,500 shares, compared to its average volume of 3,504,688. Conagra Brands Inc. has a 12-month low of $32.16 and a 12-month high of $41.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.51 and a current ratio of 1.03. The firm has a market capitalization of $14,330.00, a PE ratio of 19.33, a PEG ratio of 2.63 and a beta of 0.33.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.40 by $0.06. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. The firm had revenue of $1.80 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. sell-side analysts forecast that Conagra Brands Inc. will post 1.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders 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 yield of 2.44%. Conagra Brands’s dividend payout ratio (DPR) is 61.15%.
In other Conagra Brands news, EVP Colleen Batcheler sold 133,869 shares of the firm’s stock in a transaction 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 Securities & Exchange Commission, which is available at the SEC website. 0.79% of the stock is owned by company insiders.
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Several equities analysts have recently weighed in on CAG shares. BidaskClub upgraded Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 12th. 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. Morgan Stanley decreased their target price on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, September 25th. 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. Finally, Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.03.
Conagra Brands Profile
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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