Oakbrook Investments LLC Has $1.596 Million Position in Conagra Brands Inc (CAG)
Oakbrook Investments LLC decreased its stake in shares of Conagra Brands Inc (NYSE:CAG) by 0.8% during the first quarter, Holdings Channel reports. The firm owned 39,553 shares of the company’s stock after selling 300 shares during the period. Oakbrook Investments LLC’s holdings in Conagra Brands were worth $1,596,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the stock. Morgan Stanley raised its position in Conagra Brands by 14.2% in the third quarter. Morgan Stanley now owns 7,661,458 shares of the company’s stock valued at $360,930,000 after buying an additional 952,456 shares during the period. Neuberger Berman Group LLC raised its position in Conagra Brands by 22.0% in the third quarter. Neuberger Berman Group LLC now owns 6,378,345 shares of the company’s stock valued at $300,484,000 after buying an additional 1,150,774 shares during the period. Norges Bank acquired a new position in Conagra Brands during the fourth quarter valued at $210,860,000. Wells Fargo & Company MN raised its position in Conagra Brands by 6.9% in the third quarter. Wells Fargo & Company MN now owns 4,947,922 shares of the company’s stock valued at $233,096,000 after buying an additional 318,152 shares during the period. Finally, Third Point LLC acquired a new position in Conagra Brands during the third quarter valued at $200,218,000. Institutional investors own 76.28% of the company’s stock.
Conagra Brands Inc (NYSE:CAG) traded up 0.15% during mid-day trading on Friday, hitting $40.78. 1,536,430 shares of the stock were exchanged. The stock has a market capitalization of $17.35 billion, a P/E ratio of 29.66 and a beta of 0.30. Conagra Brands Inc has a 12-month low of $33.61 and a 12-month high of $48.86. The firm has a 50-day moving average price of $40.67 and a 200-day moving average price of $38.81.
Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, March 23rd. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. The business had revenue of $1.98 billion for the quarter, compared to analyst estimates of $1.98 billion. Conagra Brands had a return on equity of 25.62% and a net margin of 6.00%. Conagra Brands’s revenue was down 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Equities analysts predict that Conagra Brands Inc will post $1.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 30th. Investors of record on Friday, April 28th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.96%. The ex-dividend date is Wednesday, April 26th. Conagra Brands’s dividend payout ratio (DPR) is presently 55.94%.
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CAG has been the subject of several research reports. Credit Suisse Group AG raised their price objective on shares of Conagra Brands from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Saturday, December 31st. Royal Bank of Canada raised their price objective on shares of Conagra Brands from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, March 24th. Sanford C. Bernstein cut shares of Conagra Brands from a “market perform” rating to an “underperform” rating and set a $36.00 target price for the company. in a report on Tuesday, March 21st. Deutsche Bank AG initiated coverage on shares of Conagra Brands in a report on Wednesday, February 15th. They issued a “buy” rating and a $46.00 target price for the company. Finally, Vetr cut shares of Conagra Brands from a “strong-buy” rating to a “hold” rating and set a $40.38 target price for the company. in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Conagra Brands currently has an average rating of “Buy” and an average price target of $45.76.
In related news, Director Ruth Ann Marshall sold 6,046 shares of the firm’s stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $40.61, for a total value of $245,528.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.
About Conagra Brands
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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