Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co increased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 27.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 466,585 shares of the company’s stock after acquiring an additional 101,557 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.10% of Conagra Brands worth $13,839,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Naples Money Management LLC purchased a new position in shares of Conagra Brands during the fourth quarter worth $26,000. First United Bank & Trust acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $26,000. Advantage Trust Co acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $34,000. Parkside Financial Bank & Trust increased its position in shares of Conagra Brands by 48.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares in the last quarter. Finally, Whittier Trust Co. increased its position in shares of Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of CAG stock traded down $0.39 during midday trading on Thursday, reaching $29.47. 2,191,863 shares of the company traded hands, compared to its average volume of 4,692,327. The firm’s 50 day simple moving average is $29.26 and its two-hundred day simple moving average is $29.26. Conagra Brands, Inc. has a 1-year low of $25.16 and a 1-year high of $33.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The firm has a market cap of $14.09 billion, a PE ratio of 40.90, a price-to-earnings-growth ratio of 2.56 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the firm earned $0.62 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, equities research analysts expect that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 1st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.75%. Conagra Brands’s dividend payout ratio is currently 191.78%.

Insider Buying and Selling

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the completion of the transaction, the executive vice president now directly owns 113,254 shares in the company, valued at approximately $3,439,523.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CAG shares. Royal Bank of Canada lowered their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Stifel Nicolaus lowered their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Barclays lowered their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company lowered their price objective on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Citigroup lowered their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.18.

About Conagra Brands

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.