Gateway Investment Advisers LLC Sells 7,183 Shares of Conagra Brands Inc (CAG)
Gateway Investment Advisers LLC decreased its position in Conagra Brands Inc (NYSE:CAG) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 545,089 shares of the company’s stock after selling 7,183 shares during the period. Gateway Investment Advisers LLC’s holdings in Conagra Brands were worth $20,534,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. National Pension Service raised its stake in shares of Conagra Brands by 14.6% in the 4th quarter. National Pension Service now owns 455,487 shares of the company’s stock valued at $17,158,000 after purchasing an additional 57,980 shares during the period. Sit Investment Associates Inc. acquired a new stake in shares of Conagra Brands in the 4th quarter valued at about $23,392,000. Parametric Portfolio Associates LLC raised its stake in shares of Conagra Brands by 9.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 1,147,669 shares of the company’s stock valued at $38,722,000 after purchasing an additional 96,669 shares during the period. AXA raised its stake in shares of Conagra Brands by 324.3% in the 3rd quarter. AXA now owns 977,611 shares of the company’s stock valued at $32,985,000 after purchasing an additional 747,211 shares during the period. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Conagra Brands by 262.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,794 shares of the company’s stock valued at $263,000 after purchasing an additional 5,644 shares during the period. 80.42% of the stock is currently owned by hedge funds and other institutional investors.
CAG has been the topic of several recent research reports. Credit Suisse Group set a $40.00 price target on Conagra Brands and gave the company a “hold” rating in a research note on Monday, December 25th. Stifel Nicolaus lifted their price target on Conagra Brands from $38.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, December 22nd. Sanford C. Bernstein raised Conagra Brands from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 14th. Morgan Stanley dropped their price target on Conagra Brands from $42.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, September 25th. Finally, Jefferies Group reissued a “buy” rating and issued a $40.00 price target on shares of Conagra Brands in a research note on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $40.95.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 21st. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to the consensus estimate of $2.07 billion. Conagra Brands had a return on equity of 19.58% and a net margin of 9.04%. Conagra Brands’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. research analysts expect that Conagra Brands Inc will post 1.89 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be given a $0.213 dividend. The ex-dividend date is Monday, January 29th. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from Conagra Brands’s previous quarterly dividend of $0.21. Conagra Brands’s payout ratio is currently 50.90%.
In related news, Director Joie A. Gregor sold 5,250 shares of Conagra Brands stock in a transaction dated Friday, December 28th. The stock was sold at an average price of $38.04, for a total value of $199,710.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Robert G. Wise sold 23,170 shares of Conagra Brands stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the sale, the senior vice president now directly owns 51,859 shares in the company, valued at approximately $1,963,900.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,121 shares of company stock worth $5,793,780. 0.79% of the stock is owned by company insiders.
Conagra Brands Company 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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