Charles Schwab Investment Management Inc. lifted its holdings in Conagra Brands Inc (NYSE:CAG) by 2.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,302,526 shares of the company’s stock after acquiring an additional 45,356 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.47% of Conagra Brands worth $78,839,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Corient Capital Partners LLC acquired a new position in shares of Conagra Brands in the 3rd quarter worth approximately $214,000. Janney Montgomery Scott LLC boosted its holdings in shares of Conagra Brands by 1.5% in the 3rd quarter. Janney Montgomery Scott LLC now owns 93,302 shares of the company’s stock worth $2,863,000 after acquiring an additional 1,412 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Conagra Brands by 0.5% in the 3rd quarter. State of Michigan Retirement System now owns 116,971 shares of the company’s stock worth $3,589,000 after acquiring an additional 600 shares in the last quarter. Phoenix Holdings Ltd. acquired a new position in shares of Conagra Brands in the 3rd quarter worth approximately $22,451,000. Finally, Chicago Partners Investment Group LLC acquired a new position in shares of Conagra Brands in the 4th quarter worth approximately $223,000. 87.19% of the stock is currently owned by institutional investors and hedge funds.
CAG stock opened at $29.59 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.88 and a quick ratio of 0.37. The company has a 50 day moving average price of $32.38 and a 200 day moving average price of $29.96. Conagra Brands Inc has a fifty-two week low of $22.15 and a fifty-two week high of $35.59. The stock has a market capitalization of $14.54 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.10 and a beta of 0.90.
Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, December 19th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Conagra Brands had a net margin of 7.62% and a return on equity of 12.50%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS. As a group, equities analysts expect that Conagra Brands Inc will post 2.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Friday, January 31st will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, January 30th. Conagra Brands’s payout ratio is 42.29%.
In other Conagra Brands news, Director Craig P. Omtvedt bought 14,450 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was bought at an average price of $34.00 per share, for a total transaction of $491,300.00. Following the transaction, the director now owns 60,577 shares of the company’s stock, valued at approximately $2,059,618. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jana Partners Llc sold 420,926 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $32.56, for a total transaction of $13,705,350.56. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.
CAG has been the subject of several research analyst reports. Cfra restated a “buy” rating and issued a $40.00 price objective on shares of Conagra Brands in a research report on Thursday, December 19th. Berenberg Bank initiated coverage on shares of Conagra Brands in a research report on Thursday, November 14th. They issued a “hold” rating and a $29.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Conagra Brands from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Jefferies Financial Group restated a “hold” rating and issued a $34.00 price objective on shares of Conagra Brands in a research report on Wednesday. Finally, Barclays restated a “buy” rating and issued a $36.00 price objective on shares of Conagra Brands in a research report on Sunday, December 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $33.69.
About Conagra Brands
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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