Conagra Brands, Inc. (NYSE:CAG) Stock Position Raised by Probity Advisors Inc.

Probity Advisors Inc. raised its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,822 shares of the company’s stock after purchasing an additional 1,208 shares during the period. Probity Advisors Inc.’s holdings in Conagra Brands were worth $449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its stake in Conagra Brands by 237.9% during the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after purchasing an additional 54,195 shares during the period. SG Americas Securities LLC boosted its stake in Conagra Brands by 261.3% during the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock valued at $4,360,000 after purchasing an additional 106,368 shares during the period. M&G Plc acquired a new position in Conagra Brands during the 1st quarter valued at about $7,429,000. UniSuper Management Pty Ltd boosted its stake in Conagra Brands by 573.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock valued at $1,128,000 after purchasing an additional 32,396 shares during the period. Finally, Alaska Permanent Fund Corp acquired a new position in Conagra Brands during the 1st quarter valued at about $1,398,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Conagra Brands Stock Down 0.0 %

CAG stock opened at $29.71 on Thursday. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24. The firm has a market cap of $14.20 billion, a PE ratio of 40.71, a P/E/G ratio of 3.01 and a beta of 0.32. The firm has a 50 day simple moving average of $31.15 and a 200 day simple moving average of $30.29. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.71%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is presently 191.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CAG shares. Citigroup reduced their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Bank of America reduced their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. Barclays reduced their price target on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.63.

Conagra Brands 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.