Conagra Brands Inc (CAG) Holdings Cut by Mountain Pacific Investment Advisers Inc. ID
Mountain Pacific Investment Advisers Inc. ID lessened its holdings in Conagra Brands Inc (NYSE:CAG) by 43.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,749 shares of the company’s stock after selling 5,900 shares during the period. Mountain Pacific Investment Advisers Inc. ID’s holdings in Conagra Brands were worth $292,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CAG. Sun Life Financial INC grew its holdings in shares of 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 last quarter. Krilogy Financial LLC grew its holdings in shares of Conagra Brands by 7.7% during the second quarter. Krilogy Financial LLC now owns 5,170 shares of the company’s stock worth $185,000 after purchasing an additional 370 shares during the last quarter. Evercore Wealth Management LLC grew its holdings in shares of Conagra Brands by 12.9% during the second quarter. Evercore Wealth Management LLC now owns 6,325 shares of the company’s stock worth $226,000 after purchasing an additional 725 shares during the last quarter. Beech Hill Advisors Inc. bought a new stake in shares of Conagra Brands during the fourth quarter worth about $283,000. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Conagra Brands by 262.5% during the third quarter. Chicago Partners Investment Group LLC now owns 7,794 shares of the company’s stock worth $263,000 after purchasing an additional 5,644 shares during the last quarter. Hedge funds and other institutional investors own 80.21% of the company’s stock.
Conagra Brands Inc (CAG) remained flat at $$37.77 during trading on Tuesday. The company had a trading volume of 2,954,100 shares, compared to its average volume of 3,172,221. The company has a quick ratio of 0.54, a current ratio of 1.11 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $15,160.00, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.85 and a beta of 0.37. Conagra Brands Inc has a one year low of $32.16 and a one year high of $41.68.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Tuesday, January 30th will be paid a $0.213 dividend. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. This represents a $0.85 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Monday, January 29th. Conagra Brands’s payout ratio is currently 50.60%.
CAG has been the topic of several research reports. Credit Suisse Group set a $40.00 price target on Conagra Brands and gave the stock a “hold” rating in a report on Monday, December 25th. Stifel Nicolaus upgraded Conagra Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $36.00 to $38.00 in a report on Sunday, October 29th. They noted that the move was a valuation call. UBS Group upgraded Conagra Brands from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $33.00 to $37.00 in a report on Tuesday, December 12th. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a report on Wednesday, November 22nd. Finally, Sanford C. Bernstein upgraded Conagra Brands from an “underperform” rating to a “market perform” rating in a report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.95.
In related news, Director Joie A. Gregor sold 5,250 shares of Conagra Brands stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through this link. Also, SVP Robert G. Wise sold 23,170 shares of Conagra Brands stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $37.87, for a total value of $877,447.90. Following the completion of the transaction, the senior vice president now directly owns 51,859 shares in the company, valued at $1,963,900.33. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 154,121 shares of company stock worth $5,793,780. 0.79% of the stock is owned by insiders.
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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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