Amalgamated Bank Purchases 32,708 Shares of Conagra Brands, Inc. (NYSE:CAG)

Amalgamated Bank boosted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 32.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 132,296 shares of the company’s stock after buying an additional 32,708 shares during the period. Amalgamated Bank’s holdings in Conagra Brands were worth $3,760,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. boosted its position in shares of Conagra Brands by 237.9% during the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after acquiring an additional 54,195 shares during the last quarter. Stifel Financial Corp grew its stake in Conagra Brands by 12.2% in the 4th quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock worth $23,385,000 after buying an additional 88,576 shares in the last quarter. Public Employees Retirement Association of Colorado increased its holdings in shares of Conagra Brands by 663.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 436,698 shares of the company’s stock worth $12,516,000 after buying an additional 379,473 shares during the last quarter. SG Americas Securities LLC raised its position in shares of Conagra Brands by 261.3% during the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock valued at $4,360,000 after buying an additional 106,368 shares in the last quarter. Finally, M&G Plc bought a new stake in shares of Conagra Brands during the 1st quarter worth $7,429,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of CAG stock opened at $32.30 on Monday. The firm has a market capitalization of $15.44 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 2.88 and a beta of 0.32. The stock has a fifty day moving average of $30.87 and a 200 day moving average of $30.05. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $33.24. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.91 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research analyst reports. Barclays reduced their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Stifel Nicolaus lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Evercore ISI reduced their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Citigroup dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Finally, The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $31.10.

Insider Transactions at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Conagra Brands 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.