Tobam Has $1.52 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Tobam trimmed its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,856 shares of the company’s stock after selling 5,841 shares during the period. Tobam’s holdings in Conagra Brands were worth $1,524,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. grew its position in shares of Conagra Brands by 237.9% in the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after acquiring an additional 54,195 shares during the period. SG Americas Securities LLC grew its stake in Conagra Brands by 261.3% in the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock valued at $4,360,000 after buying an additional 106,368 shares during the last quarter. M&G Plc bought a new position in shares of Conagra Brands during the first quarter worth approximately $7,429,000. UniSuper Management Pty Ltd lifted its holdings in Conagra Brands by 573.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock worth $1,128,000 after purchasing an additional 32,396 shares during the last quarter. Finally, Alaska Permanent Fund Corp bought a new stake in Conagra Brands in the 1st quarter valued at $1,398,000. Institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the topic of several research reports. BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Barclays cut their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group started coverage on Conagra Brands in a research report on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Citigroup decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus target price of $31.63.

Insider Activity

In related news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is currently owned by company insiders.

Conagra Brands Trading Up 0.2 %

CAG stock traded up $0.06 during mid-day trading on Thursday, reaching $29.37. The company’s stock had a trading volume of 1,729,670 shares, compared to its average volume of 4,773,617. Conagra Brands, Inc. has a 12 month low of $26.51 and a 12 month high of $33.24. The company has a current ratio of 0.97, a quick ratio of 0.33 and a debt-to-equity ratio of 0.88. The business’s 50 day moving average price is $31.21 and its 200 day moving average price is $30.28. The company has a market cap of $14.04 billion, a price-to-earnings ratio of 40.16, a price-to-earnings-growth ratio of 2.95 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.07). The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. On average, equities research analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be paid a $0.35 dividend. The ex-dividend date is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.77%. Conagra Brands’s dividend payout ratio is presently 191.78%.

Conagra Brands Company Profile

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.