Elo Mutual Pension Insurance Co Grows Stake in Conagra Brands, Inc. (NYSE:CAG)

Elo Mutual Pension Insurance Co lifted its position in Conagra Brands, Inc. (NYSE:CAG) by 2.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,730 shares of the company’s stock after purchasing an additional 1,054 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Conagra Brands were worth $1,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the 2nd quarter valued at about $25,000. Chilton Capital Management LLC purchased a new position in Conagra Brands in the 2nd quarter worth approximately $25,000. Whittier Trust Co. increased its holdings in shares of Conagra Brands by 144.4% in the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after buying an additional 836 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of Conagra Brands during the 1st quarter valued at $42,000. Finally, Security National Bank bought a new position in Conagra Brands in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.88% of the stock is currently owned by insiders.

Conagra Brands Trading Down 0.3 %

Shares of CAG opened at $32.30 on Friday. The firm has a fifty day simple moving average of $30.79 and a two-hundred day simple moving average of $29.99. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $33.24. The stock has a market capitalization of $15.44 billion, a P/E ratio of 44.25, a PEG ratio of 2.88 and a beta of 0.32. 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 posted its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period last year, the firm earned $0.62 earnings per share. Conagra Brands’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CAG shares. Barclays dropped their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Citigroup cut their target price on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective for the company. Finally, Stifel Nicolaus decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $31.10.

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.