First Republic Investment Management Inc. trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG – Get Rating) by 26.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,805 shares of the company's stock after selling 12,581 shares during the quarter. First Republic Investment Management Inc.'s holdings in Conagra Brands were worth $1,136,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Securian Asset Management Inc. raised its holdings in shares of Conagra Brands by 0.7% in the third quarter. Securian Asset Management Inc. now owns 39,071 shares of the company's stock worth $1,275,000 after buying an additional 286 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Conagra Brands by 0.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 32,518 shares of the company's stock worth $1,113,000 after purchasing an additional 292 shares during the period. Fortitude Advisory Group L.L.C. increased its holdings in Conagra Brands by 3.7% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 8,265 shares of the company's stock worth $283,000 after purchasing an additional 298 shares during the period. Brookstone Capital Management increased its holdings in Conagra Brands by 1.0% during the 3rd quarter. Brookstone Capital Management now owns 29,861 shares of the company's stock worth $1,003,000 after purchasing an additional 302 shares during the period. Finally, Allworth Financial LP increased its holdings in Conagra Brands by 12.8% during the 3rd quarter. Allworth Financial LP now owns 2,781 shares of the company's stock worth $91,000 after purchasing an additional 316 shares during the period. 81.08% of the stock is currently owned by hedge funds and other institutional investors.
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Insiders Place Their Bets
In other Conagra Brands news, SVP Robert G. Wise sold 50,000 shares of Conagra Brands stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $40.90, for a total transaction of $2,045,000.00. Following the completion of the sale, the senior vice president now owns 22,717 shares of the company's stock, valued at approximately $929,125.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.98% of the stock is currently owned by insiders.
Conagra Brands Stock Up 0.5 %
Conagra Brands stock opened at $36.45 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.92 and a quick ratio of 0.29. The stock has a market capitalization of $17.37 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.98 and a beta of 0.56. Conagra Brands, Inc. has a 1-year low of $30.06 and a 1-year high of $41.30. The business has a fifty day moving average price of $38.38 and a 200-day moving average price of $35.91.
Conagra Brands (NYSE:CAG – Get Rating) last posted its quarterly earnings data on Thursday, January 5th. The company reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.15. The firm had revenue of $3.31 billion during the quarter, compared to analysts' expectations of $3.28 billion. Conagra Brands had a return on equity of 14.38% and a net margin of 5.66%. The business's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. Equities research analysts forecast that Conagra Brands, Inc. will post 2.66 EPS for the current fiscal year.
Conagra Brands Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 2nd. Shareholders of record on Monday, January 30th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, January 27th. This represents a $1.32 dividend on an annualized basis and a yield of 3.62%. Conagra Brands's dividend payout ratio is currently 93.62%.
Analyst Upgrades and Downgrades
CAG has been the topic of several research reports. Evercore ISI raised their price objective on Conagra Brands from $40.00 to $42.00 and gave the stock an "outperform" rating in a report on Thursday, December 29th. Credit Suisse Group raised their price objective on Conagra Brands from $35.00 to $40.00 and gave the stock a "neutral" rating in a report on Friday, January 6th. UBS Group raised their price objective on Conagra Brands from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft downgraded Conagra Brands from a "hold" rating to a "sell" rating and raised their price objective for the stock from $33.00 to $34.00 in a report on Tuesday, December 6th. Finally, Royal Bank of Canada increased their target price on Conagra Brands from $35.00 to $38.00 and gave the company a "sector perform" rating in a research report on Friday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $40.45.
Conagra Brands Profile
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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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