Conagra Brands Inc. (CAG) Holdings Raised by Cipher Capital LP
Cipher Capital LP boosted its stake in shares of Conagra Brands Inc. (NYSE:CAG) by 14.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 189,374 shares of the company’s stock after purchasing an additional 23,463 shares during the quarter. Conagra Brands comprises 0.5% of Cipher Capital LP’s portfolio, making the stock its 28th largest holding. Cipher Capital LP’s holdings in Conagra Brands were worth $6,390,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in CAG. Sun Life Financial INC boosted its position in Conagra Brands by 32,666.7% during the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock worth $105,000 after purchasing an additional 2,940 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in Conagra Brands by 143.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock worth $112,000 after purchasing an additional 1,851 shares during the period. Alpha Windward LLC boosted its position in Conagra Brands by 5.8% during the second quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock worth $128,000 after purchasing an additional 196 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in Conagra Brands by 53.3% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,833 shares of the company’s stock worth $137,000 after purchasing an additional 1,333 shares during the period. Finally, North Star Investment Management Corp. boosted its position in Conagra Brands by 170.3% during the second quarter. North Star Investment Management Corp. now owns 4,130 shares of the company’s stock worth $148,000 after purchasing an additional 2,602 shares during the period. 79.33% of the stock is owned by hedge funds and other institutional investors.
In related news, EVP Colleen Batcheler sold 133,869 shares of the company’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $34.28, for a total value of $4,589,029.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.79% of the company’s stock.
Shares of Conagra Brands Inc. (CAG) traded up $0.44 during midday trading on Friday, hitting $35.62. The company had a trading volume of 2,491,200 shares, compared to its average volume of 3,502,508. The company has a quick ratio of 0.51, a current ratio of 1.03 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $14,610.00, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 2.65 and a beta of 0.33. Conagra Brands Inc. has a twelve month low of $32.16 and a twelve month high of $41.68.
Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, September 28th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.06. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.79 billion. Conagra Brands had a return on equity of 18.35% and a net margin of 7.83%. Conagra Brands’s revenue was down 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share. equities analysts anticipate that Conagra Brands Inc. will post 1.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 13th will be paid a $0.2125 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.39%. Conagra Brands’s payout ratio is 61.15%.
Several equities research analysts have recently weighed in on CAG shares. BidaskClub cut Conagra Brands from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 26th. Morgan Stanley reduced their price objective on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, September 25th. Credit Suisse Group reduced their price objective on Conagra Brands from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Monday, September 25th. Jefferies Group LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Conagra Brands in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Three analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $40.03.
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Conagra Brands Profile
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.
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