Burney Co. Buys 11,514 Shares of Conagra Brands, Inc. (NYSE:CAG)

Burney Co. increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 30.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,928 shares of the company’s stock after buying an additional 11,514 shares during the quarter. Burney Co.’s holdings in Conagra Brands were worth $1,650,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CAG. Nordea Investment Management AB lifted its holdings in shares of Conagra Brands by 114.1% during the 2nd quarter. Nordea Investment Management AB now owns 14,735,860 shares of the company’s stock worth $491,736,000 after acquiring an additional 7,854,021 shares during the period. Norges Bank bought a new position in Conagra Brands during the fourth quarter worth about $163,004,000. Canada Pension Plan Investment Board lifted its stake in Conagra Brands by 283.4% during the second quarter. Canada Pension Plan Investment Board now owns 3,887,502 shares of the company’s stock worth $131,087,000 after purchasing an additional 2,873,650 shares during the period. State Street Corp boosted its holdings in Conagra Brands by 12.8% during the first quarter. State Street Corp now owns 23,556,766 shares of the company’s stock valued at $790,801,000 after purchasing an additional 2,671,720 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Conagra Brands by 25.1% in the 1st quarter. Federated Hermes Inc. now owns 9,033,184 shares of the company’s stock valued at $339,286,000 after purchasing an additional 1,810,053 shares during the period. 84.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Conagra Brands

In other news, Director Richard H. Lenny acquired 9,238 shares of Conagra Brands stock in a transaction that occurred on Monday, October 9th. The shares were acquired at an average price of $27.31 per share, with a total value of $252,289.78. Following the purchase, the director now directly owns 165,205 shares of the company’s stock, valued at $4,511,748.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.88% of the company’s stock.

Conagra Brands Trading Down 0.2 %

Shares of CAG opened at $28.08 on Friday. The stock’s fifty day simple moving average is $27.71 and its 200-day simple moving average is $31.44. The company has a quick ratio of 0.30, a current ratio of 0.91 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $13.42 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 2.74 and a beta of 0.61. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $41.30.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, October 5th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.06. Conagra Brands had a net margin of 8.80% and a return on equity of 15.49%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the firm posted $0.57 earnings per share. Conagra Brands’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts predict that Conagra Brands, Inc. will post 2.68 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 2nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, November 1st. This represents a $1.40 dividend on an annualized basis and a yield of 4.99%. Conagra Brands’s dividend payout ratio is presently 62.22%.

Analyst Ratings Changes

CAG has been the subject of several analyst reports. Jefferies Financial Group cut their target price on Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, October 6th. The Goldman Sachs Group lowered their target price on shares of Conagra Brands from $37.00 to $33.00 in a report on Thursday, October 5th. JPMorgan Chase & Co. reduced their price target on shares of Conagra Brands from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Monday, August 21st. StockNews.com began coverage on shares of Conagra Brands in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Barclays reduced their target price on Conagra Brands from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Friday, October 6th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $34.15.

Conagra Brands Profile

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