Westfield Capital Management Co. LP Sells 388,507 Shares of Conagra Brands Inc (NYSE:CAG)

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Westfield Capital Management Co. LP cut its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 10.7% during the first quarter, HoldingsChannel reports. The firm owned 3,239,408 shares of the company’s stock after selling 388,507 shares during the period. Westfield Capital Management Co. LP’s holdings in Conagra Brands were worth $89,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Investors Research Corp acquired a new stake in Conagra Brands in the first quarter valued at approximately $28,000. CSat Investment Advisory L.P. raised its holdings in shares of Conagra Brands by 101.4% in the first quarter. CSat Investment Advisory L.P. now owns 1,176 shares of the company’s stock worth $33,000 after buying an additional 592 shares during the last quarter. Princeton Global Asset Management LLC purchased a new position in shares of Conagra Brands in the fourth quarter worth $26,000. Capital Investment Advisory Services LLC purchased a new position in shares of Conagra Brands in the fourth quarter worth $26,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Conagra Brands in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 88.58% of the company’s stock.

In other Conagra Brands news, Director Ruth Ann Marshall sold 6,717 shares of Conagra Brands stock in a transaction on Friday, April 26th. The shares were sold at an average price of $31.00, for a total value of $208,227.00. Following the completion of the transaction, the director now owns 99,897 shares of the company’s stock, valued at $3,096,807. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joie A. Gregor acquired 10,000 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was purchased at an average cost of $29.99 per share, with a total value of $299,900.00. Following the acquisition, the director now directly owns 145,440 shares of the company’s stock, valued at approximately $4,361,745.60. The disclosure for this purchase can be found here. Company insiders own 0.92% of the company’s stock.

Shares of Conagra Brands stock traded up $0.20 during trading on Thursday, hitting $29.75. 110,071 shares of the company’s stock were exchanged, compared to its average volume of 4,055,719. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.31 and a quick ratio of 0.58. Conagra Brands Inc has a 52-week low of $20.22 and a 52-week high of $39.43. The stock has a market cap of $14.50 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.97 and a beta of 0.89.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, March 21st. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.02. Conagra Brands had a net margin of 6.99% and a return on equity of 16.40%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same quarter last year, the company posted $0.61 earnings per share. The firm’s revenue was up 35.7% compared to the same quarter last year. As a group, equities analysts expect that Conagra Brands Inc will post 2.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, April 30th were issued a dividend of $0.2125 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $0.85 annualized dividend and a dividend yield of 2.86%. Conagra Brands’s dividend payout ratio (DPR) is presently 40.28%.

A number of research analysts have issued reports on CAG shares. Bank of America reaffirmed a “buy” rating and issued a $30.00 price target on shares of Conagra Brands in a report on Thursday, April 11th. Goldman Sachs Group set a $32.00 price target on shares of Conagra Brands and gave the stock a “buy” rating in a report on Friday, March 22nd. SunTrust Banks started coverage on shares of Conagra Brands in a report on Tuesday, May 14th. They issued a “buy” rating and a $35.00 price target for the company. Morgan Stanley started coverage on shares of Conagra Brands in a report on Monday, May 20th. They issued an “equal weight” rating and a $31.00 price target for the company. Finally, Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $37.00.

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Conagra Brands 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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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