First Trust Advisors LP grew its position in Conagra Brands Inc (NYSE:CAG) by 27.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,437,567 shares of the company’s stock after purchasing an additional 521,020 shares during the period. First Trust Advisors LP owned approximately 0.50% of Conagra Brands worth $74,785,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Berman Capital Advisors LLC lifted its holdings in shares of Conagra Brands by 86.2% in the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock valued at $25,000 after purchasing an additional 444 shares in the last quarter. Doyle Wealth Management bought a new stake in shares of Conagra Brands in the second quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Conagra Brands in the third quarter valued at about $31,000. Kavar Capital Partners LLC bought a new stake in shares of Conagra Brands in the second quarter valued at about $34,000. Finally, Quest Capital Management Inc. ADV bought a new stake in shares of Conagra Brands in the third quarter valued at about $43,000. Institutional investors own 86.26% of the company’s stock.
NYSE:CAG opened at $27.44 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.40 and a current ratio of 1.11. The stock’s 50-day simple moving average is $28.29 and its 200 day simple moving average is $28.69. The company has a market cap of $13.44 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.86 and a beta of 0.84. Conagra Brands Inc has a 52-week low of $20.22 and a 52-week high of $35.72.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Friday, November 1st will be given a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 42.29%.
A number of analysts have recently commented on CAG shares. ValuEngine upgraded Conagra Brands from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Royal Bank of Canada started coverage on Conagra Brands in a report on Thursday, October 17th. They issued a “sector perform” rating and a $30.00 price target on the stock. Credit Suisse Group restated a “hold” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, September 19th. Citigroup boosted their price target on Conagra Brands from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Barclays set a $33.00 price target on Conagra Brands and gave the company a “buy” rating in a report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $33.33.
In related news, EVP Colleen Batcheler sold 25,458 shares of Conagra Brands stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.00, for a total value of $763,740.00. Following the sale, the executive vice president now owns 169,873 shares of the company’s stock, valued at $5,096,190. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Thomas M. Mcgough sold 26,099 shares of Conagra Brands stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $31.00, for a total value of $809,069.00. Following the completion of the sale, the chief operating officer now directly owns 145,869 shares in the company, valued at approximately $4,521,939. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.
Conagra Brands Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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