Westpac Banking Corp Raises Position in Conagra Brands Inc (NYSE:CAG)

Westpac Banking Corp grew its position in Conagra Brands Inc (NYSE:CAG) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,221 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Westpac Banking Corp’s holdings in Conagra Brands were worth $1,968,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CAG. Berman Capital Advisors LLC boosted its holdings in shares of Conagra Brands by 86.2% in the second quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock valued at $25,000 after acquiring an additional 444 shares in the last quarter. Investors Research Corp purchased a new stake in shares of Conagra Brands in the first quarter valued at about $28,000. Ellis Investment Partners LLC purchased a new stake in shares of Conagra Brands in the first quarter valued at about $33,000. CSat Investment Advisory L.P. boosted its holdings in shares of Conagra Brands by 101.4% in the first quarter. CSat Investment Advisory L.P. now owns 1,176 shares of the company’s stock valued at $33,000 after acquiring an additional 592 shares in the last quarter. Finally, Optimum Investment Advisors boosted its holdings in shares of Conagra Brands by 335.7% in the first quarter. Optimum Investment Advisors now owns 1,307 shares of the company’s stock valued at $36,000 after acquiring an additional 1,007 shares in the last quarter. 88.13% of the stock is currently owned by institutional investors and hedge funds.

In other Conagra Brands news, Director Richard H. Lenny sold 20,153 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $27.27, for a total value of $549,572.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig P. Omtvedt purchased 25,000 shares of Conagra Brands stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $26.73 per share, for a total transaction of $668,250.00. The disclosure for this purchase can be found here. Insiders sold 33,589 shares of company stock worth $929,334 in the last ninety days. Insiders own 0.92% of the company’s stock.

Several brokerages have recently weighed in on CAG. Evercore ISI began coverage on shares of Conagra Brands in a report on Tuesday, June 11th. They issued an “outperform” rating and a $36.00 target price on the stock. Citigroup decreased their price objective on shares of Conagra Brands from $36.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, June 28th. SunTrust Banks began coverage on shares of Conagra Brands in a report on Tuesday, May 14th. They set a “buy” rating and a $35.00 price objective on the stock. Morgan Stanley began coverage on shares of Conagra Brands in a report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price objective on the stock in a report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.42.

CAG stock traded up $0.62 during trading on Friday, reaching $29.47. 2,488,100 shares of the company were exchanged, compared to its average volume of 3,939,049. The company has a market cap of $14.02 billion, a P/E ratio of 14.66, a PEG ratio of 1.95 and a beta of 0.86. Conagra Brands Inc has a 52-week low of $20.22 and a 52-week high of $38.43. The stock’s 50 day moving average price is $28.26 and its 200 day moving average price is $27.28. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.54 and a current ratio of 1.28.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, June 27th. The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 EPS. As a group, equities research analysts forecast that Conagra Brands Inc will post 2.11 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Tuesday, July 30th will be issued a $0.2125 dividend. This represents a $0.85 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, July 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.

Conagra Brands Profile

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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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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