Family Legacy Inc. cut its stake in shares of Conagra Brands Inc (NYSE:CAG) by 2.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,045 shares of the company’s stock after selling 450 shares during the quarter. Family Legacy Inc.’s holdings in Conagra Brands were worth $585,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of CAG. Geode Capital Management LLC grew its stake in Conagra Brands by 36.8% during the 4th quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock valued at $146,052,000 after acquiring an additional 1,840,875 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $269,000. Thrivent Financial for Lutherans grew its stake in shares of Conagra Brands by 21.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 20,585 shares of the company’s stock valued at $440,000 after buying an additional 3,688 shares during the period. Old Port Advisors grew its stake in shares of Conagra Brands by 7.9% in the 1st quarter. Old Port Advisors now owns 74,265 shares of the company’s stock valued at $2,060,000 after buying an additional 5,443 shares during the period. Finally, Legacy Advisors LLC purchased a new stake in shares of Conagra Brands in the 1st quarter valued at approximately $71,000. 88.41% of the stock is owned by institutional investors.
NYSE:CAG opened at $28.27 on Monday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.28 and a quick ratio of 0.54. The stock has a market cap of $13.74 billion, a PE ratio of 14.06, a P/E/G ratio of 1.91 and a beta of 0.86. The business’s 50 day moving average is $28.40. Conagra Brands Inc has a fifty-two week low of $20.22 and a fifty-two week high of $38.43.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, July 30th will be given a dividend of $0.2125 per share. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 3.01%. Conagra Brands’s payout ratio is currently 42.29%.
Several analysts have recently weighed in on CAG shares. SunTrust Banks started coverage on shares of Conagra Brands in a research note 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 research note on Monday, May 20th. They issued an “equal weight” rating and a $31.00 price target for the company. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a research note on Monday, July 8th. Citigroup dropped their price target on shares of Conagra Brands from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Finally, ValuEngine raised shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research note on Wednesday, April 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $34.42.
In related news, Director Craig P. Omtvedt acquired 25,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average price of $26.73 per share, with a total value of $668,250.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ruth Ann Marshall sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $27.00, for a total transaction of $81,000.00. Following the transaction, the director now directly owns 102,387 shares of the company’s stock, valued at approximately $2,764,449. The disclosure for this sale can be found here. Insiders have sold a total of 13,436 shares of company stock valued at $379,762 in the last ninety days. 0.92% of the stock is currently owned by corporate insiders.
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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