Conagra Brands (NYSE:CAG) Sees Strong Trading Volume

Conagra Brands, Inc. (NYSE:CAG) shares saw unusually-strong trading volume on Wednesday . Approximately 146,390 shares were traded during trading, a decline of 94% from the previous session’s volume of 2,467,062 shares.The stock last traded at $37.48 and had previously closed at $38.47.

A number of equities research analysts recently commented on CAG shares. Credit Suisse Group raised their price objective on shares of Conagra Brands from $33.00 to $34.00 and gave the stock an “underperform” rating in a report on Tuesday, March 23rd. Royal Bank of Canada raised their price objective on shares of Conagra Brands from $37.00 to $38.00 in a report on Friday, April 9th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on shares of Conagra Brands in a report on Wednesday, April 21st. They set a “neutral” rating and a $42.00 price objective on the stock. Finally, Citigroup started coverage on shares of Conagra Brands in a report on Tuesday, April 20th. They set a “neutral” rating and a $42.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Conagra Brands presently has a consensus rating of “Hold” and an average target price of $38.22.

The company has a debt-to-equity ratio of 0.99, a current ratio of 0.80 and a quick ratio of 0.32. The business’s 50 day simple moving average is $37.77. The firm has a market cap of $17.84 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.88.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, April 7th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.01. Conagra Brands had a net margin of 10.15% and a return on equity of 16.95%. The firm had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same period in the previous year, the business earned $0.47 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. As a group, analysts expect that Conagra Brands, Inc. will post 2.63 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 2nd. Stockholders of record on Friday, April 30th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Thursday, April 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 48.25%.

In other news, COO Thomas M. Mcgough sold 45,660 shares of Conagra Brands stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $37.55, for a total value of $1,714,533.00. Following the completion of the transaction, the chief operating officer now owns 102,001 shares of the company’s stock, valued at approximately $3,830,137.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jana Partners Llc sold 2,811,853 shares of Conagra Brands stock in a transaction dated Thursday, May 6th. The shares were sold at an average price of $37.60, for a total transaction of $105,725,672.80. The disclosure for this sale can be found here. In the last three months, insiders sold 2,942,853 shares of company stock valued at $110,641,396. Insiders own 2.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Conagra Brands during the 1st quarter worth about $30,000. Allworth Financial LP boosted its holdings in shares of Conagra Brands by 1,156.1% during the 1st quarter. Allworth Financial LP now owns 829 shares of the company’s stock worth $31,000 after buying an additional 763 shares during the period. E Fund Management Co. Ltd. bought a new stake in shares of Conagra Brands during the 1st quarter worth about $32,000. Evoke Wealth LLC boosted its holdings in shares of Conagra Brands by 591.3% during the 1st quarter. Evoke Wealth LLC now owns 878 shares of the company’s stock worth $33,000 after buying an additional 751 shares during the period. Finally, GPS Wealth Strategies Group LLC bought a new stake in shares of Conagra Brands during the 1st quarter worth about $36,000. 83.36% of the stock is owned by institutional investors.

Conagra Brands Company Profile (NYSE:CAG)

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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