6,918 Shares in Conagra Brands, Inc. (NYSE:CAG) Acquired by Perpetual Ltd

Perpetual Ltd purchased a new stake in Conagra Brands, Inc. (NYSE:CAG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,918 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CAG. Rafferty Asset Management LLC boosted its stake in Conagra Brands by 11.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 35,596 shares of the company’s stock worth $976,000 after purchasing an additional 3,679 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Conagra Brands by 18.3% during the third quarter. Envestnet Asset Management Inc. now owns 1,711,931 shares of the company’s stock worth $46,941,000 after buying an additional 264,601 shares during the period. FMR LLC grew its holdings in shares of Conagra Brands by 7.3% during the third quarter. FMR LLC now owns 1,663,917 shares of the company’s stock worth $45,625,000 after buying an additional 113,241 shares in the last quarter. LPL Financial LLC raised its position in Conagra Brands by 20.0% in the 3rd quarter. LPL Financial LLC now owns 950,526 shares of the company’s stock valued at $26,063,000 after buying an additional 158,183 shares during the last quarter. Finally, Mariner LLC raised its position in Conagra Brands by 4.5% in the 3rd quarter. Mariner LLC now owns 123,047 shares of the company’s stock valued at $3,374,000 after buying an additional 5,261 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $28.82 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average price is $30.13 and its two-hundred day moving average price is $29.29. The company has a market cap of $13.78 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 2.79 and a beta of 0.32. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $34.65.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $0.76 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts predict that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend was Monday, April 29th. Conagra Brands’s payout ratio is presently 70.35%.

Insider Transactions at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares in the company, valued at approximately $3,439,523.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CAG has been the subject of a number of recent research reports. Citigroup upped their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Barclays lifted their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus increased their price objective on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average price target of $33.14.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.