Bollard Group LLC boosted its position in shares of Conagra Brands Inc (NYSE:CAG) by 12.1% during the first quarter, Holdings Channel reports. The fund owned 79,792 shares of the company’s stock after buying an additional 8,598 shares during the period. Bollard Group LLC’s holdings in Conagra Brands were worth $3,219,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Morgan Stanley boosted its position in shares of Conagra Brands by 14.2% in the third quarter. Morgan Stanley now owns 7,661,458 shares of the company’s stock worth $360,930,000 after buying an additional 952,456 shares during the last quarter. Neuberger Berman Group LLC boosted its position in shares of Conagra Brands by 22.0% in the third quarter. Neuberger Berman Group LLC now owns 6,378,345 shares of the company’s stock worth $300,484,000 after buying an additional 1,150,774 shares during the last quarter. Norges Bank purchased a new position in shares of Conagra Brands during the fourth quarter worth approximately $210,860,000. Wells Fargo & Company MN boosted its position in shares of Conagra Brands by 6.9% in the third quarter. Wells Fargo & Company MN now owns 4,947,922 shares of the company’s stock worth $233,096,000 after buying an additional 318,152 shares during the last quarter. Finally, Third Point LLC purchased a new position in shares of Conagra Brands during the third quarter worth approximately $200,218,000. 76.28% of the stock is owned by institutional investors and hedge funds.
Conagra Brands Inc (NYSE:CAG) traded up 0.753% on Thursday, hitting $40.785. The stock had a trading volume of 1,637,625 shares. Conagra Brands Inc has a one year low of $33.61 and a one year high of $48.86. The company’s 50-day moving average price is $40.69 and its 200 day moving average price is $38.79. The firm has a market cap of $17.35 billion, a price-to-earnings ratio of 29.662 and a beta of 0.30.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, March 23rd. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Conagra Brands had a net margin of 6.00% and a return on equity of 25.62%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the business posted $0.57 EPS. The firm’s revenue was down 9.9% compared to the same quarter last year. Analysts expect that Conagra Brands Inc will post $1.72 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 30th. Shareholders of record on Friday, April 28th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, April 26th. This represents a $0.80 dividend on an annualized basis and a yield of 1.98%. Conagra Brands’s dividend payout ratio is currently 55.94%.
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A number of equities analysts have commented on CAG shares. Credit Suisse Group AG increased their target price on Conagra Brands from $35.00 to $40.00 and gave the company a “neutral” rating in a report on Saturday, December 31st. Royal Bank of Canada upped their price target on Conagra Brands from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 24th. Sanford C. Bernstein lowered Conagra Brands from a “market perform” rating to an “underperform” rating and set a $36.00 price target for the company. in a research report on Tuesday, March 21st. Deutsche Bank AG started coverage on Conagra Brands in a research report on Wednesday, February 15th. They issued a “buy” rating and a $46.00 price target for the company. Finally, Vetr lowered Conagra Brands from a “strong-buy” rating to a “hold” rating and set a $40.38 price target for the company. in a research report on Monday, January 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $45.76.
In other Conagra Brands news, Director Ruth Ann Marshall sold 6,046 shares of the business’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $40.61, for a total value of $245,528.06. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.58% of the company’s stock.
About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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