Short Interest in Conagra Brands Inc (NYSE:CAG) Decreases By 5.3%

Conagra Brands Inc (NYSE:CAG) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 23,200,000 shares, a drop of 5.3% from the January 15th total of 24,500,000 shares. Approximately 4.8% of the shares of the stock are sold short. Based on an average daily volume of 4,500,000 shares, the short-interest ratio is currently 5.2 days.

Several research firms have weighed in on CAG. TheStreet raised Conagra Brands from a “c+” rating to a “b-” rating in a research report on Friday, December 27th. Deutsche Bank raised their price target on Conagra Brands from $29.00 to $30.00 and gave the stock a “hold” rating in a research report on Friday, December 20th. ValuEngine downgraded Conagra Brands from a “sell” rating to a “strong sell” rating in a research report on Friday, January 3rd. Jefferies Financial Group began coverage on Conagra Brands in a research report on Wednesday, January 22nd. They set a “hold” rating and a $36.00 price target for the company. Finally, Morgan Stanley raised their price target on Conagra Brands from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $33.81.

In related news, Director Craig P. Omtvedt purchased 14,450 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was bought at an average price of $34.00 per share, with a total value of $491,300.00. Following the completion of the transaction, the director now owns 60,577 shares of the company’s stock, valued at approximately $2,059,618. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jana Partners Llc sold 420,926 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $32.56, for a total value of $13,705,350.56. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Alberta Investment Management Corp boosted its holdings in Conagra Brands by 22.8% in the fourth quarter. Alberta Investment Management Corp now owns 202,300 shares of the company’s stock valued at $6,927,000 after acquiring an additional 37,500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Conagra Brands by 3.1% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 47,149 shares of the company’s stock valued at $1,604,000 after acquiring an additional 1,415 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Conagra Brands in the fourth quarter valued at $377,000. Captrust Financial Advisors boosted its holdings in Conagra Brands by 56.2% in the fourth quarter. Captrust Financial Advisors now owns 24,827 shares of the company’s stock valued at $835,000 after acquiring an additional 8,928 shares during the last quarter. Finally, Bluefin Trading LLC acquired a new position in Conagra Brands in the fourth quarter valued at $441,000. Hedge funds and other institutional investors own 87.19% of the company’s stock.

Shares of NYSE:CAG opened at $32.69 on Tuesday. The company has a market cap of $15.91 billion, a P/E ratio of 19.81, a P/E/G ratio of 2.20 and a beta of 0.91. The company has a quick ratio of 0.37, a current ratio of 0.88 and a debt-to-equity ratio of 1.21. Conagra Brands has a 52 week low of $22.15 and a 52 week high of $35.59. The business has a fifty day simple moving average of $32.71 and a 200-day simple moving average of $29.93.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.80 billion. Conagra Brands had a return on equity of 12.50% and a net margin of 7.62%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 earnings per share. Sell-side analysts expect that Conagra Brands will post 2.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Investors of record on Friday, January 31st will be issued a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, January 30th. Conagra Brands’s payout ratio is currently 42.29%.

Conagra Brands Company Profile

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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