Peregrine Asset Advisers Inc. acquired a new position in shares of Conagra Brands Inc (NYSE:CAG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 88,419 shares of the company’s stock, valued at approximately $2,345,000.
A number of other institutional investors have also modified their holdings of CAG. Berman Capital Advisors LLC raised its stake in shares of Conagra Brands by 86.2% in the 2nd quarter. Berman Capital Advisors LLC now owns 959 shares of the company’s stock valued at $25,000 after purchasing an additional 444 shares during the period. Investors Research Corp acquired a new stake in shares of Conagra Brands in the 1st quarter valued at about $28,000. CSat Investment Advisory L.P. raised its stake in shares of Conagra Brands by 101.4% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,176 shares of the company’s stock valued at $33,000 after purchasing an additional 592 shares during the period. Kavar Capital Partners LLC acquired a new stake in shares of Conagra Brands in the 2nd quarter valued at about $34,000. Finally, Optimum Investment Advisors raised its stake in shares of Conagra Brands by 335.7% in the 1st quarter. Optimum Investment Advisors now owns 1,307 shares of the company’s stock valued at $36,000 after purchasing an additional 1,007 shares during the period. 84.77% of the stock is currently owned by institutional investors and hedge funds.
Conagra Brands stock traded down $0.87 during midday trading on Friday, reaching $27.93. 3,839,535 shares of the company’s stock were exchanged, compared to its average volume of 3,889,151. Conagra Brands Inc has a 52 week low of $20.22 and a 52 week high of $38.43. The company has a debt-to-equity ratio of 1.43, a quick ratio of 0.54 and a current ratio of 1.28. The firm has a market cap of $13.81 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.92 and a beta of 0.86. The stock’s 50-day simple moving average is $28.54 and its 200 day simple moving average is $27.45.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, July 30th will be issued a dividend of $0.2125 per share. This represents a $0.85 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Monday, July 29th. Conagra Brands’s payout ratio is currently 42.29%.
Several analysts have issued reports on the company. UBS Group set a $32.00 price target on Conagra Brands and gave the company a “buy” rating in a research note on Friday, June 28th. SunTrust Banks started coverage on Conagra Brands in a report on Tuesday, May 14th. They issued a “buy” rating and a $35.00 price objective for the company. Zacks Investment Research upgraded Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price objective for the company in a report on Monday, July 8th. Bank of America set a $35.00 price objective on Conagra Brands and gave the company a “buy” rating in a report on Friday, June 28th. Finally, Evercore ISI started coverage on Conagra Brands in a report on Tuesday, June 11th. They issued an “outperform” rating and a $36.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $33.45.
In related news, Director Ruth Ann Marshall sold 2,436 shares of Conagra Brands stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $29.11, for a total transaction of $70,911.96. Following the completion of the transaction, the director now owns 101,823 shares in the company, valued at $2,964,067.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard H. Lenny sold 20,153 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $27.27, for a total transaction of $549,572.31. The disclosure for this sale can be found here. Insiders have sold 33,589 shares of company stock valued at $929,334 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.
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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