Cadinha & Co. LLC held its position in Conagra Brands Inc (NYSE:CAG) during the second quarter, Holdings Channel reports. The fund owned 10,600 shares of the company’s stock at the end of the second quarter. Cadinha & Co. LLC’s holdings in Conagra Brands were worth $379,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Conagra Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 46,312,610 shares of the company’s stock valued at $1,868,249,000 after buying an additional 1,175,244 shares in the last quarter. BlackRock Inc. raised its position in Conagra Brands by 2,749.9% in the first quarter. BlackRock Inc. now owns 26,966,885 shares of the company’s stock valued at $1,087,846,000 after buying an additional 26,020,645 shares in the last quarter. Wells Fargo & Company MN raised its position in Conagra Brands by 30.3% in the first quarter. Wells Fargo & Company MN now owns 7,336,632 shares of the company’s stock valued at $295,959,000 after buying an additional 1,706,553 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Conagra Brands by 21.6% in the first quarter. TIAA CREF Investment Management LLC now owns 6,575,883 shares of the company’s stock valued at $265,271,000 after buying an additional 1,169,432 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Conagra Brands by 13.9% in the first quarter. American Century Companies Inc. now owns 6,177,203 shares of the company’s stock valued at $249,188,000 after buying an additional 753,028 shares in the last quarter. Hedge funds and other institutional investors own 77.64% of the company’s stock.

Shares of Conagra Brands Inc (NYSE CAG) opened at 34.39 on Thursday. The firm has a market cap of $14.33 billion, a P/E ratio of 23.55 and a beta of 0.32. Conagra Brands Inc has a 52-week low of $32.93 and a 52-week high of $41.68. The company has a 50 day moving average price of $34.65 and a 200-day moving average price of $38.33.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, June 29th. The company reported $0.37 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.37. Conagra Brands had a net margin of 7.22% and a return on equity of 14.95%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business posted $0.52 EPS. The firm’s revenue was down 9.3% compared to the same quarter last year. On average, analysts expect that Conagra Brands Inc will post $1.86 earnings per share for the current fiscal year.

Conagra Brands announced that its board has authorized a share buyback program on Thursday, June 29th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Monday, July 31st will be issued a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Thursday, July 27th. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.20. Conagra Brands’s dividend payout ratio is currently 57.82%.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Daily Political and is the sole property of of Daily Political. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/08/10/conagra-brands-inc-cag-stake-held-by-cadinha-co-llc.html.

Several analysts have issued reports on CAG shares. BidaskClub downgraded Conagra Brands from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $42.00 price target (down previously from $44.00) on shares of Conagra Brands in a research note on Wednesday, June 28th. UBS AG downgraded Conagra Brands from a “neutral” rating to a “sell” rating and dropped their price target for the company from $38.00 to $35.00 in a research note on Tuesday, April 25th. Jefferies Group LLC reissued a “buy” rating on shares of Conagra Brands in a research note on Friday, June 16th. Finally, Credit Suisse Group set a $39.00 price target on Conagra Brands and gave the company a “hold” rating in a research note on Saturday, July 1st. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.72.

In related news, Director Ruth Ann Marshall sold 6,046 shares of the company’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total value of $200,848.12. Following the sale, the director now owns 89,260 shares in the company, valued at approximately $2,965,217.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen G. Butler sold 5,848 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $35.80, for a total transaction of $209,358.40. The disclosure for this sale can be found here. Corporate insiders own 0.58% of the company’s stock.

About Conagra Brands

Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands Inc (NYSE:CAG).

Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

Receive News & Ratings for Conagra Brands Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands Inc and related companies with MarketBeat.com's FREE daily email newsletter.