State of Alaska Department of Revenue decreased its holdings in shares of Conagra Brands Inc (NYSE:CAG) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,794 shares of the company’s stock after selling 1,465 shares during the quarter. State of Alaska Department of Revenue’s holdings in Conagra Brands were worth $3,123,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of the stock. BlackRock Inc. lifted its holdings in Conagra Brands by 20.9% in the 1st quarter. BlackRock Inc. now owns 43,165,563 shares of the company’s stock worth $1,197,414,000 after buying an additional 7,469,653 shares in the last quarter. FMR LLC boosted its holdings in shares of Conagra Brands by 27.2% in the first quarter. FMR LLC now owns 14,183,529 shares of the company’s stock valued at $393,451,000 after acquiring an additional 3,031,757 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Conagra Brands by 36.8% in the fourth quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock valued at $146,052,000 after acquiring an additional 1,840,875 shares in the last quarter. Coho Partners Ltd. lifted its stake in Conagra Brands by 13.6% during the first quarter. Coho Partners Ltd. now owns 4,357,850 shares of the company’s stock valued at $120,887,000 after purchasing an additional 520,982 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of Conagra Brands by 8.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 3,200,000 shares of the company’s stock valued at $88,768,000 after acquiring an additional 262,291 shares in the last quarter. Institutional investors and hedge funds own 88.40% of the company’s stock.
In other Conagra Brands news, Director Craig P. Omtvedt purchased 25,000 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $26.73 per share, for a total transaction of $668,250.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ruth Ann Marshall sold 3,000 shares of Conagra Brands stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $27.00, for a total transaction of $81,000.00. Following the sale, the director now owns 102,387 shares of the company’s stock, valued at approximately $2,764,449. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,436 shares of company stock valued at $379,762. 0.92% of the stock is owned by corporate insiders.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, June 27th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06). Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, research analysts predict that Conagra Brands Inc will post 2.11 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Tuesday, July 30th will be given a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Monday, July 29th. Conagra Brands’s dividend payout ratio is 42.29%.
A number of research firms recently issued reports on CAG. Bank of America set a $35.00 target price on shares of Conagra Brands and gave the company a “buy” rating in a research note on Friday, June 28th. Morgan Stanley initiated coverage on shares of Conagra Brands in a report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price target for the company. SunTrust Banks initiated coverage on shares of Conagra Brands in a research report on Tuesday, May 14th. They issued a “buy” rating and a $35.00 price objective for the company. UBS Group set a $32.00 price objective on shares of Conagra Brands and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Evercore ISI initiated coverage on shares of Conagra Brands in a research report on Tuesday, June 11th. They issued an “outperform” rating and a $36.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $34.42.
About Conagra Brands
Conagra Brands, Inc, together with its subsidiaries, operates as a 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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