AXS Investments LLC purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG – Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 33,153 shares of the company’s stock, valued at approximately $1,118,000.
Several other large investors have also made changes to their positions in the business. Bedel Financial Consulting Inc. raised its position in shares of Conagra Brands by 4.6% during the second quarter. Bedel Financial Consulting Inc. now owns 9,135 shares of the company’s stock valued at $308,000 after buying an additional 405 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Conagra Brands by 42.4% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 130,941 shares of the company’s stock worth $4,415,000 after purchasing an additional 39,005 shares in the last quarter. Cetera Advisors LLC lifted its stake in Conagra Brands by 1.8% in the 2nd quarter. Cetera Advisors LLC now owns 26,272 shares of the company’s stock worth $886,000 after purchasing an additional 465 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Conagra Brands by 14.7% during the 2nd quarter. Cetera Investment Advisers now owns 80,374 shares of the company’s stock valued at $2,710,000 after purchasing an additional 10,271 shares during the last quarter. Finally, Burney Co. grew its position in shares of Conagra Brands by 30.8% during the second quarter. Burney Co. now owns 48,928 shares of the company’s stock valued at $1,650,000 after purchasing an additional 11,514 shares in the last quarter. 84.27% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Conagra Brands
In other news, Director Richard H. Lenny purchased 9,238 shares of the stock in a transaction that occurred on Monday, October 9th. The stock was purchased at an average price of $27.31 per share, for a total transaction of $252,289.78. Following the completion of the acquisition, the director now owns 165,205 shares of the company’s stock, valued at $4,511,748.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is owned by corporate insiders.
Conagra Brands Trading Up 0.4 %
Conagra Brands (NYSE:CAG – Get Free Report) last posted its quarterly earnings data on Thursday, October 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.06. Conagra Brands had a return on equity of 15.49% and a net margin of 8.80%. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the business earned $0.57 EPS. Conagra Brands’s revenue was up .0% compared to the same quarter last year. Equities analysts expect that Conagra Brands, Inc. will post 2.68 earnings per share for the current year.
Conagra Brands Dividend Announcement
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 dividend of $0.35 per share. 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 4.97%. Conagra Brands’s payout ratio is 62.22%.
Analyst Upgrades and Downgrades
CAG has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their target price on Conagra Brands from $36.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday, October 6th. Jefferies Financial Group lowered 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. Morgan Stanley reduced their price target on shares of Conagra Brands from $37.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Monday, October 9th. TD Cowen started coverage on shares of Conagra Brands in a research note on Wednesday, September 13th. They set a “market perform” rating and a $32.00 price target on the stock. Finally, The Goldman Sachs Group dropped their price objective on shares of Conagra Brands from $37.00 to $33.00 in a research note on Thursday, October 5th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $34.15.
About Conagra Brands
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.
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