Macquarie Group Ltd. increased its stake in Conagra Brands Inc. (NYSE:CAG) by 11.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,900 shares of the company’s stock after acquiring an additional 2,300 shares during the quarter. Macquarie Group Ltd.’s holdings in Conagra Brands were worth $739,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of CAG. Janus Henderson Group PLC lifted its stake 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 worth $219,711,000 after acquiring an additional 6,083,663 shares during the period. American Century Companies Inc. increased its holdings in Conagra Brands by 64.0% in the third quarter. American Century Companies Inc. now owns 11,938,659 shares of the company’s stock worth $402,810,000 after purchasing an additional 4,660,867 shares in the last quarter. AJO LP increased its holdings in Conagra Brands by 757.3% in the second quarter. AJO LP now owns 3,118,724 shares of the company’s stock worth $111,526,000 after purchasing an additional 2,754,930 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Conagra Brands by 49.8% in the second quarter. Alliancebernstein L.P. now owns 5,674,123 shares of the company’s stock worth $202,907,000 after purchasing an additional 1,886,614 shares in the last quarter. Finally, Numeric Investors LLC increased its holdings in Conagra Brands by 75.2% in the second quarter. Numeric Investors LLC now owns 3,077,000 shares of the company’s stock worth $110,034,000 after purchasing an additional 1,321,100 shares in the last quarter. 79.03% of the stock is currently owned by institutional investors.
Shares of Conagra Brands Inc. (NYSE CAG) opened at $37.24 on Tuesday. Conagra Brands Inc. has a 1-year low of $32.16 and a 1-year high of $41.68. The stock has a market capitalization of $15,216.55, a price-to-earnings ratio of 20.69, a P/E/G ratio of 2.81 and a beta of 0.37. The company has a current ratio of 1.03, a quick ratio of 0.51 and a debt-to-equity ratio of 0.71.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Friday, October 13th were issued a dividend of $0.2125 per share. The ex-dividend date was Monday, October 30th. This represents a $0.85 annualized dividend and a yield of 2.28%. Conagra Brands’s dividend payout ratio (DPR) is currently 60.28%.
In other Conagra Brands news, EVP Colleen Batcheler sold 120,451 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was 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 legal filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on the company. UBS upgraded Conagra Brands from a “sell” rating to a “neutral” rating in a report on Tuesday. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Wednesday, November 22nd. Stifel Nicolaus upgraded Conagra Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $36.00 to $38.00 in a 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 report on Tuesday, October 3rd. Finally, Royal Bank of Canada restated a “buy” rating and set a $45.00 price objective on shares of Conagra Brands in a report on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $40.03.
Conagra Brands Company 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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