Guardian Investment Management Has $1.11 Million Stake in Conagra Brands Inc (CAG)
Guardian Investment Management cut its stake in shares of Conagra Brands Inc (NYSE:CAG) by 8.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,650 shares of the company’s stock after selling 3,150 shares during the quarter. Guardian Investment Management’s holdings in Conagra Brands were worth $1,109,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Fort L.P. acquired a new position in shares of Conagra Brands during the second quarter worth about $117,000. LFA Lugano Financial Advisors SA grew its position in shares of Conagra Brands by 137.6% during the third quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock worth $175,000 after buying an additional 2,984 shares in the last quarter. Lucia Wealth Services LLC acquired a new position in shares of Conagra Brands during the second quarter worth about $184,000. Lincoln National Corp acquired a new position in shares of Conagra Brands during the second quarter worth about $200,000. Finally, Zacks Investment Management acquired a new position in shares of Conagra Brands during the second quarter worth about $203,000. 81.29% of the stock is owned by institutional investors and hedge funds.
CAG stock traded up $0.42 during trading on Friday, hitting $35.85. 329,360 shares of the company’s stock were exchanged, compared to its average volume of 7,360,879. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 2.02 and a beta of 0.31. Conagra Brands Inc has a 52-week low of $32.81 and a 52-week high of $39.43. The company has a quick ratio of 0.39, a current ratio of 0.84 and a debt-to-equity ratio of 0.85.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, October 17th will be paid a $0.2125 dividend. This represents a $0.85 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Tuesday, October 16th. Conagra Brands’s dividend payout ratio is currently 40.28%.
In other news, CFO David S. Marberger acquired 2,836 shares of Conagra Brands stock in a transaction on Friday, October 12th. The stock was bought at an average price of $35.25 per share, for a total transaction of $99,969.00. Following the completion of the purchase, the chief financial officer now owns 12,721 shares in the company, valued at $448,415.25. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Connolly acquired 14,184 shares of Conagra Brands stock in a transaction on Friday, October 12th. The stock was purchased at an average price of $35.25 per share, with a total value of $499,986.00. Following the purchase, the insider now owns 217,607 shares of the company’s stock, valued at approximately $7,670,646.75. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 24,112 shares of company stock valued at $849,948. 0.92% of the stock is owned by company insiders.
CAG has been the subject of several recent analyst reports. Citigroup decreased their target price on Conagra Brands from $43.00 to $42.00 and set a “buy” rating for the company in a research note on Thursday, June 28th. Jefferies Financial Group set a $44.00 target price on Conagra Brands and gave the stock a “buy” rating in a research note on Thursday, September 27th. Zacks Investment Research upgraded Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday, August 29th. UBS Group upgraded Conagra Brands from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $38.00 to $40.00 in a research note on Monday, October 8th. Finally, ValuEngine upgraded Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 8th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $42.78.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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