Elkfork Partners LLC decreased its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 15.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282,192 shares of the company’s stock after selling 52,010 shares during the period. Elkfork Partners LLC’s holdings in Conagra Brands were worth $10,630,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Synovus Financial Corp boosted its holdings in shares of Conagra Brands by 52.9% during the third quarter. Synovus Financial Corp now owns 13,585 shares of the company’s stock valued at $458,000 after acquiring an additional 4,701 shares during the period. Check Capital Management Inc. CA acquired a new position in shares of Conagra Brands during the fourth quarter valued at $256,000. Barings LLC boosted its holdings in shares of Conagra Brands by 176.9% during the fourth quarter. Barings LLC now owns 62,608 shares of the company’s stock valued at $2,358,000 after acquiring an additional 40,000 shares during the period. Iberiabank Corp acquired a new position in shares of Conagra Brands during the fourth quarter valued at $207,000. Finally, Ferris Capital LLC acquired a new position in shares of Conagra Brands during the fourth quarter valued at $616,000. Hedge funds and other institutional investors own 79.87% of the company’s stock.
In other Conagra Brands news, SVP Robert G. Wise sold 23,170 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the sale, the senior vice president now directly owns 51,859 shares of the company’s stock, valued at approximately $1,963,900.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joie A. Gregor sold 5,250 shares of the company’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $38.04, for a total transaction of $199,710.00. The disclosure for this sale can be found here. Insiders sold 33,670 shares of company stock valued at $1,276,868 in the last ninety days. Corporate insiders own 0.79% of the company’s stock.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, March 22nd. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. The business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2 billion. Conagra Brands had a net margin of 11.36% and a return on equity of 21.08%. The company’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.48 earnings per share. analysts forecast that Conagra Brands Inc will post 2.04 EPS for the current fiscal year.
CAG has been the subject of several analyst reports. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Thursday, February 22nd. Jefferies Group reissued a “buy” rating and set a $44.00 price target on shares of Conagra Brands in a report on Thursday. Sanford C. Bernstein raised shares of Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. Royal Bank of Canada reissued a “buy” rating and set a $46.00 price target on shares of Conagra Brands in a report on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $41.67.
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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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