Gabelli Funds LLC Has $35.92 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Gabelli Funds LLC lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAGGet Rating) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,070,000 shares of the company’s stock after selling 44,000 shares during the quarter. Gabelli Funds LLC’s holdings in Conagra Brands were worth $35,920,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CAG. Lazard Asset Management LLC boosted its holdings in shares of Conagra Brands by 282.6% during the fourth quarter. Lazard Asset Management LLC now owns 1,140 shares of the company’s stock worth $38,000 after acquiring an additional 842 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Conagra Brands by 9.0% during the fourth quarter. HighTower Advisors LLC now owns 186,311 shares of the company’s stock worth $6,370,000 after acquiring an additional 15,310 shares during the period. Citigroup Inc. boosted its holdings in shares of Conagra Brands by 30.1% during the fourth quarter. Citigroup Inc. now owns 475,417 shares of the company’s stock worth $16,235,000 after acquiring an additional 109,998 shares during the period. Pictet Asset Management SA boosted its holdings in shares of Conagra Brands by 31.3% during the fourth quarter. Pictet Asset Management SA now owns 295,519 shares of the company’s stock worth $10,092,000 after acquiring an additional 70,509 shares during the period. Finally, Confluence Wealth Services Inc. bought a new stake in shares of Conagra Brands during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CAG. UBS Group boosted their price objective on Conagra Brands from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, July 8th. Deutsche Bank Aktiengesellschaft cut their price target on Conagra Brands from $35.00 to $32.00 in a research note on Friday, July 15th. Citigroup cut their price target on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, July 15th. Credit Suisse Group cut their price target on Conagra Brands from $36.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, July 15th. Finally, Morgan Stanley cut their price target on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating for the company in a research note on Friday, July 15th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.67.

Insider Transactions at Conagra Brands

In related news, Director Emanuel Chirico purchased 30,000 shares of the stock in a transaction dated Monday, July 25th. The stock was bought at an average cost of $34.06 per share, for a total transaction of $1,021,800.00. Following the completion of the acquisition, the director now owns 40,788 shares of the company’s stock, valued at $1,389,239.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Emanuel Chirico purchased 30,000 shares of the stock in a transaction dated Monday, July 25th. The stock was bought at an average cost of $34.06 per share, for a total transaction of $1,021,800.00. Following the completion of the acquisition, the director now owns 40,788 shares of the company’s stock, valued at $1,389,239.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Thomas M. Mcgough sold 21,405 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $35.40, for a total transaction of $757,737.00. Following the transaction, the chief operating officer now owns 104,859 shares of the company’s stock, valued at $3,712,008.60. The disclosure for this sale can be found here. Company insiders own 0.98% of the company’s stock.

Conagra Brands Stock Down 2.9 %

NYSE CAG opened at $33.65 on Wednesday. The business has a fifty day moving average price of $34.47 and a two-hundred day moving average price of $33.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.86 and a quick ratio of 0.31. Conagra Brands, Inc. has a fifty-two week low of $30.06 and a fifty-two week high of $36.97. The stock has a market capitalization of $16.16 billion, a PE ratio of 18.29, a PEG ratio of 2.04 and a beta of 0.57.

Conagra Brands (NYSE:CAGGet Rating) last released its earnings results on Thursday, July 14th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The firm had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Conagra Brands, Inc. will post 2.41 earnings per share for the current fiscal year.

Conagra Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 3rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, August 2nd. This is an increase from Conagra Brands’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 3.92%. Conagra Brands’s dividend payout ratio is 71.74%.

Conagra Brands Company Profile

(Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels in the United States.

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

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