Guardian Investment Management cut its position in Conagra Brands Inc (NYSE:CAG) by 8.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,650 shares of the company’s stock after selling 3,150 shares during the quarter. Guardian Investment Management’s holdings in Conagra Brands were worth $1,109,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fort L.P. purchased a new position in Conagra Brands during the second quarter valued at approximately $117,000. LFA Lugano Financial Advisors SA grew its stake in shares of Conagra Brands by 137.6% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock worth $175,000 after purchasing an additional 2,984 shares during the period. Lucia Wealth Services LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter worth approximately $184,000. Lincoln National Corp acquired a new stake in Conagra Brands in the 2nd quarter valued at $200,000. Finally, Zacks Investment Management acquired a new stake in Conagra Brands in the 2nd quarter valued at $203,000. Institutional investors and hedge funds own 81.29% of the company’s stock.
CAG has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Conagra Brands from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Citigroup dropped their price target on shares of Conagra Brands from $43.00 to $42.00 and set a “buy” rating on the stock in a research note on Thursday, June 28th. ValuEngine cut shares of Conagra Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. JPMorgan Chase & Co. lifted their price target on shares of Conagra Brands from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Finally, Stephens initiated coverage on shares of Conagra Brands in a research note on Monday, August 20th. They issued an “overweight” rating and a $45.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $42.78.
Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Thursday, September 27th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.85 billion. Conagra Brands had a net margin of 10.47% and a return on equity of 22.50%. Conagra Brands’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 EPS. Sell-side analysts predict that Conagra Brands Inc will post 2.19 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, October 17th will be given a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.37%. The ex-dividend date is Tuesday, October 16th. Conagra Brands’s dividend payout ratio is currently 40.28%.
In other Conagra Brands news, EVP Colleen Batcheler sold 22,750 shares of Conagra Brands stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $36.00, for a total value of $819,000.00. Following the completion of the transaction, the executive vice president now directly owns 163,145 shares of the company’s stock, valued at approximately $5,873,220. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David S. Marberger bought 2,836 shares of the company’s stock in a transaction on Friday, October 12th. The stock was purchased at an average cost of $35.25 per share, with a total value of $99,969.00. Following the completion of the transaction, the chief financial officer now owns 12,721 shares in the company, valued at $448,415.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 24,112 shares of company stock valued at $849,948. 0.92% 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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