Landsberg Bennett & Dubbaneh LLC cut its stake in shares of Conagra Brands Inc (NYSE:CAG) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,876 shares of the company’s stock after selling 1,037 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in Conagra Brands were worth $662,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Berman Capital Advisors LLC boosted its position in shares of Conagra Brands by 86.2% in the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock worth $25,000 after buying an additional 444 shares during the period. Doyle Wealth Management acquired a new stake in shares of Conagra Brands in the second quarter worth $26,000. Kavar Capital Partners LLC acquired a new stake in shares of Conagra Brands in the second quarter worth $34,000. Coastal Investment Advisors Inc. boosted its position in shares of Conagra Brands by 4,160.0% in the second quarter. Coastal Investment Advisors Inc. now owns 1,704 shares of the company’s stock worth $46,000 after buying an additional 1,664 shares during the period. Finally, First Bank & Trust boosted its position in shares of Conagra Brands by 49.8% in the second quarter. First Bank & Trust now owns 1,925 shares of the company’s stock worth $51,000 after buying an additional 640 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.
NYSE CAG opened at $28.41 on Friday. Conagra Brands Inc has a fifty-two week low of $20.22 and a fifty-two week high of $37.60. The stock’s 50-day moving average is $29.08 and its two-hundred day moving average is $28.84. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.11 and a quick ratio of 0.40. The firm has a market cap of $13.67 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Friday, November 1st will be issued a dividend of $0.2125 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.85 annualized dividend and a yield of 2.99%. Conagra Brands’s dividend payout ratio (DPR) is currently 42.29%.
Several analysts have recently commented on CAG shares. Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $33.00 to $31.00 in a research report on Friday, September 6th. Bank of America set a $35.00 price objective on Conagra Brands and gave the company a “buy” rating in a research report on Friday, June 28th. Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price objective for the company in a research report on Monday, July 8th. Barclays set a $33.00 price objective on Conagra Brands and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, ValuEngine raised Conagra Brands from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $33.64.
In other Conagra Brands news, COO Thomas M. Mcgough sold 26,099 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $31.00, for a total transaction of $809,069.00. Following the transaction, the chief operating officer now directly owns 145,869 shares in the company, valued at $4,521,939. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ruth Ann Marshall sold 2,436 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $29.11, for a total value of $70,911.96. Following the transaction, the director now owns 101,823 shares in the company, valued at $2,964,067.53. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,146 shares of company stock worth $2,335,793. Corporate insiders own 0.84% of the company’s stock.
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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