IFM Investors Pty Ltd boosted its holdings in Conagra Brands Inc (NYSE:CAG) by 68.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,318 shares of the company’s stock after acquiring an additional 21,717 shares during the quarter. IFM Investors Pty Ltd’s holdings in Conagra Brands were worth $1,636,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Berman Capital Advisors LLC increased its stake in Conagra Brands by 86.2% in the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock valued at $25,000 after acquiring an additional 444 shares during the period. Doyle Wealth Management acquired a new position in Conagra Brands in the second quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new position in Conagra Brands in the third quarter valued at about $31,000. Kavar Capital Partners LLC acquired a new position in Conagra Brands in the second quarter valued at about $34,000. Finally, Quest Capital Management Inc. ADV acquired a new position in Conagra Brands in the third quarter valued at about $43,000. 86.26% of the stock is currently owned by institutional investors and hedge funds.
Shares of CAG stock opened at $27.44 on Friday. Conagra Brands Inc has a 1 year low of $20.22 and a 1 year high of $35.72. The firm’s 50 day moving average is $28.29 and its 200-day moving average is $28.69. The firm has a market capitalization of $13.44 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.86 and a beta of 0.84. The company has a current ratio of 1.11, a quick ratio of 0.40 and a debt-to-equity ratio of 1.37.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be given a dividend of $0.2125 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.85 dividend on an annualized basis and a dividend yield of 3.10%. Conagra Brands’s payout ratio is 42.29%.
A number of equities analysts have commented on CAG shares. Barclays set a $33.00 price target on shares of Conagra Brands and gave the company a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada started coverage on shares of Conagra Brands in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $30.00 price target on the stock. ValuEngine upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Goldman Sachs Group lowered shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $31.00 in a research report on Friday, September 6th. Finally, Credit Suisse Group restated a “hold” rating and issued a $29.00 price target on shares of Conagra Brands in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.33.
In related news, COO Thomas M. Mcgough sold 26,099 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.00, for a total transaction of $809,069.00. Following the completion of the sale, the chief operating officer now directly owns 145,869 shares of the company’s stock, valued at $4,521,939. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Colleen Batcheler sold 25,458 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $30.00, for a total transaction of $763,740.00. Following the sale, the executive vice president now directly owns 169,873 shares of the company’s stock, valued at $5,096,190. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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