Contravisory Investment Management Inc. lessened its position in Conagra Brands, Inc. (NYSE:CAG) by 3.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,269 shares of the company’s stock after selling 291 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Conagra Brands were worth $311,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of CAG. HM Payson & Co. boosted its stake in shares of Conagra Brands by 32.1% during the 3rd quarter. HM Payson & Co. now owns 2,675 shares of the company’s stock worth $96,000 after acquiring an additional 650 shares during the period. TCW Group Inc. boosted its stake in Conagra Brands by 0.3% in the 4th quarter. TCW Group Inc. now owns 1,253,388 shares of the company’s stock valued at $45,447,000 after purchasing an additional 4,205 shares during the period. Mercer Global Advisors Inc. ADV boosted its stake in Conagra Brands by 0.7% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 59,748 shares of the company’s stock valued at $2,134,000 after purchasing an additional 409 shares during the period. Eqis Capital Management Inc. bought a new stake in shares of Conagra Brands during the 4th quarter valued at $593,000. Finally, Toronto Dominion Bank lifted its position in shares of Conagra Brands by 3.8% during the 4th quarter. Toronto Dominion Bank now owns 502,021 shares of the company’s stock valued at $18,203,000 after acquiring an additional 18,383 shares during the period. Hedge funds and other institutional investors own 82.11% of the company’s stock.
In other news, COO Thomas M. Mcgough sold 24,340 shares of Conagra Brands stock in a transaction on Tuesday, March 16th. The stock was sold at an average price of $37.50, for a total value of $912,750.00. Following the completion of the transaction, the chief operating officer now directly owns 80,681 shares in the company, valued at $3,025,537.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Thomas M. Mcgough sold 45,660 shares of Conagra Brands stock in a transaction on Friday, March 19th. The shares were sold at an average price of $37.55, for a total value of $1,714,533.00. Following the completion of the transaction, the chief operating officer now owns 102,001 shares of the company’s stock, valued at $3,830,137.55. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, April 7th. The company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.01. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. The business had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same period last year, the company posted $0.47 earnings per share. Conagra Brands’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts predict that Conagra Brands, Inc. will post 2.6 EPS for the current fiscal year.
A number of analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Conagra Brands in a research report on Friday, January 8th. They set a “buy” rating and a $41.00 target price for the company. Royal Bank of Canada increased their target price on Conagra Brands from $37.00 to $38.00 in a research report on Friday, April 9th. Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 price target for the company in a research note on Monday, January 11th. Finally, Credit Suisse Group increased their price target on Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a research note on Monday, March 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $36.88.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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