Red Cedar Capital LLC raised its stake in shares of Conagra Brands Inc (NYSE:CAG) by 69.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,385 shares of the company’s stock after acquiring an additional 33,846 shares during the quarter. Conagra Brands makes up 2.5% of Red Cedar Capital LLC’s portfolio, making the stock its 15th biggest position. Red Cedar Capital LLC’s holdings in Conagra Brands were worth $2,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fort L.P. acquired a new stake in shares of Conagra Brands in the 2nd quarter worth about $117,000. JNBA Financial Advisors increased its holdings in shares of Conagra Brands by 761.4% in the 3rd quarter. JNBA Financial Advisors now owns 4,393 shares of the company’s stock worth $149,000 after acquiring an additional 3,883 shares during the period. Bray Capital Advisors acquired a new stake in shares of Conagra Brands in the 3rd quarter worth about $170,000. LFA Lugano Financial Advisors SA increased its holdings in shares of Conagra Brands by 137.6% in the 3rd quarter. LFA Lugano Financial Advisors SA now owns 5,153 shares of the company’s stock worth $175,000 after acquiring an additional 2,984 shares during the period. Finally, Lucia Wealth Services LLC acquired a new stake in shares of Conagra Brands in the 2nd quarter worth about $184,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.

In other news, insider Sean Connolly bought 14,184 shares of the firm’s stock in a transaction on Friday, October 12th. The stock was bought at an average cost of $35.25 per share, for a total transaction of $499,986.00. Following the completion of the acquisition, the insider now directly owns 217,607 shares in the company, valued at approximately $7,670,646.75. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David S. Marberger bought 2,836 shares of the firm’s 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 $99,969.00. Following the completion of the acquisition, the chief financial officer now owns 12,721 shares of the company’s stock, valued at $448,415.25. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 24,112 shares of company stock valued at $849,948. Insiders own 0.92% of the company’s stock.

A number of analysts recently weighed in on the stock. Stephens assumed coverage on shares of Conagra Brands in a report on Monday, August 20th. They issued an “overweight” rating and a $45.00 price objective on the stock. Goldman Sachs Group reissued a “buy” rating and set a $42.00 target price on shares of Conagra Brands in a research note on Wednesday, October 24th. JPMorgan Chase & Co. raised their target price on shares of Conagra Brands from $43.00 to $45.00 and gave the company an “overweight” rating in a research note on Friday, July 27th. Zacks Investment Research raised shares of Conagra Brands from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Wednesday, August 29th. Finally, Credit Suisse Group initiated coverage on shares of Conagra Brands in a research report on Wednesday, October 31st. They set a “neutral” rating and a $40.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $42.70.

NYSE:CAG opened at $33.23 on Wednesday. Conagra Brands Inc has a twelve month low of $31.86 and a twelve month high of $39.43. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.84 and a quick ratio of 0.39. The stock has a market cap of $13.10 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 1.94 and a beta of 0.17.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, September 27th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.02). Conagra Brands had a net margin of 10.47% and a return on equity of 22.50%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the business posted $0.46 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Equities research analysts expect that Conagra Brands Inc will post 2.15 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, October 17th will be given a dividend of $0.2125 per share. The ex-dividend date is Tuesday, October 16th. This represents a $0.85 annualized dividend and a dividend yield of 2.56%. Conagra Brands’s dividend payout ratio (DPR) is 40.28%.

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Conagra Brands Profile

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

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