Cowen Inc. boosted its stake in shares of Conagra Brands Inc. (NYSE:CAG) by 279.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,371 shares of the company’s stock after purchasing an additional 110,000 shares during the period. Cowen Inc.’s holdings in Conagra Brands were worth $5,039,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in CAG. Sun Life Financial INC lifted its stake in shares of Conagra Brands by 32,666.7% in the 2nd quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock valued at $105,000 after purchasing an additional 2,940 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of 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 valued at $112,000 after purchasing an additional 1,851 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Conagra Brands by 57.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 4,692 shares of the company’s stock valued at $168,000 after purchasing an additional 1,705 shares during the period. Krilogy Financial LLC lifted its stake in shares of Conagra Brands by 7.7% in the 2nd quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock valued at $185,000 after purchasing an additional 370 shares during the period. Finally, Evercore Wealth Management LLC raised its position in Conagra Brands by 12.9% during the second quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock worth $226,000 after acquiring an additional 725 shares during the period. 79.04% of the stock is currently owned by institutional investors.
In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $37.50, for a total value of $4,516,912.50. Following the transaction, the executive vice president now owns 211,514 shares of the company’s stock, valued at $7,931,775. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.79% of the company’s stock.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, September 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.06. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Conagra Brands’s quarterly revenue was down 4.8% on a year-over-year basis. research analysts expect that Conagra Brands Inc. will post 1.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Shareholders of record on Friday, October 13th were given a $0.2125 dividend. The ex-dividend date was Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a yield of 2.28%. Conagra Brands’s payout ratio is currently 60.28%.
A number of equities analysts have weighed in on CAG shares. Royal Bank Of Canada restated a “buy” rating and set a $45.00 price objective on shares of Conagra Brands in a research report on Friday, September 29th. Zacks Investment Research upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research report on Wednesday, November 22nd. Stifel Nicolaus upgraded shares of Conagra Brands from a “hold” rating to a “buy” rating and upped their price objective for the stock from $36.00 to $38.00 in a research report on Sunday, October 29th. They noted that the move was a valuation call. Jefferies Group restated a “buy” rating and set a $40.00 price objective on shares of Conagra Brands in a research report on Tuesday, October 3rd. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $39.00 target price on shares of Conagra Brands in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target 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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