FormulaFolio Investments LLC acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 13,150 shares of the company’s stock, valued at approximately $477,000.
Other institutional investors also recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC raised its stake in Conagra Brands by 10,010.0% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,011 shares of the company’s stock worth $37,000 after acquiring an additional 1,001 shares in the last quarter. Kinloch Capital LLC acquired a new position in Conagra Brands during the fourth quarter worth $42,000. Ellevest Inc. raised its stake in Conagra Brands by 2,337.7% during the fourth quarter. Ellevest Inc. now owns 1,292 shares of the company’s stock worth $47,000 after acquiring an additional 1,239 shares in the last quarter. CVA Family Office LLC raised its stake in Conagra Brands by 25.1% during the fourth quarter. CVA Family Office LLC now owns 1,683 shares of the company’s stock worth $61,000 after acquiring an additional 338 shares in the last quarter. Finally, TD Ameritrade Investment Management LLC acquired a new position in Conagra Brands during the fourth quarter worth $65,000. Hedge funds and other institutional investors own 82.11% of the company’s stock.
Shares of CAG stock opened at $37.24 on Thursday. The stock has a 50-day moving average price of $36.31 and a 200 day moving average price of $35.81. The company has a quick ratio of 0.35, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market cap of $18.19 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.86 and a beta of 0.86. Conagra Brands, Inc. has a 12 month low of $30.12 and a 12 month high of $39.34.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, January 6th. The company reported $0.81 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.07. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.98 billion. Conagra Brands had a return on equity of 16.50% and a net margin of 9.67%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. Sell-side analysts predict that Conagra Brands, Inc. will post 2.6 earnings per share for the current fiscal year.
In other news, Director Richard H. Lenny acquired 10,000 shares of the stock in a transaction that occurred on Friday, January 8th. The stock was purchased at an average cost of $33.70 per share, for a total transaction of $337,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Thomas M. Mcgough sold 45,660 shares of Conagra Brands stock in a transaction dated Friday, March 19th. The stock was sold at an average price of $37.55, for a total value of $1,714,533.00. Following the completion of the sale, the chief operating officer now owns 102,001 shares of the company’s stock, valued at $3,830,137.55. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.
A number of analysts have recently weighed in on the company. Credit Suisse Group raised their target price on Conagra Brands from $33.00 to $34.00 and gave the company an “underperform” rating in a research note on Monday, March 29th. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating and set a $36.00 target price for the company in a research note on Monday, January 11th. Finally, Jefferies Financial Group assumed coverage on Conagra Brands in a research note on Friday, January 8th. They issued a “buy” rating and a $41.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Conagra Brands currently has a consensus rating of “Hold” and an average target price of $36.71.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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