Conagra Brands, Inc. (NYSE:CAG) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 17.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,828 shares of the company’s stock after purchasing an additional 4,207 shares during the period. GAMMA Investing LLC’s holdings in Conagra Brands were worth $905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Federated Hermes Inc. grew its stake in Conagra Brands by 20.5% in the 2nd quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock worth $313,004,000 after acquiring an additional 1,871,238 shares during the period. Dimensional Fund Advisors LP increased its stake in Conagra Brands by 17.2% in the second quarter. Dimensional Fund Advisors LP now owns 4,313,994 shares of the company’s stock valued at $122,602,000 after purchasing an additional 633,794 shares during the last quarter. Squarepoint Ops LLC lifted its position in Conagra Brands by 148.2% during the second quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after buying an additional 1,513,726 shares during the period. Marshall Wace LLP boosted its stake in Conagra Brands by 1,362.6% in the 2nd quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after buying an additional 2,242,186 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Conagra Brands by 3.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,294,468 shares of the company’s stock valued at $65,209,000 after acquiring an additional 78,487 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by company insiders.

Conagra Brands Stock Performance

NYSE:CAG opened at $29.09 on Tuesday. Conagra Brands, Inc. has a 1-year low of $26.42 and a 1-year high of $33.24. The stock has a market cap of $13.91 billion, a P/E ratio of 39.85, a PEG ratio of 2.95 and a beta of 0.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The firm has a 50-day moving average of $31.26 and a two-hundred day moving average of $30.29.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. Conagra Brands’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 earnings per share. On average, research analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.81%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is currently 191.78%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a report on Thursday, October 3rd. 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. 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. Finally, BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $31.33.

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.