Conagra Brands Inc (NYSE:CAG) EVP Colleen Batcheler sold 25,458 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.00, for a total value of $763,740.00. Following the sale, the executive vice president now owns 169,873 shares of the company’s stock, valued at $5,096,190. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Conagra Brands stock traded up $0.06 during trading on Friday, reaching $28.41. The company had a trading volume of 2,223,876 shares, compared to its average volume of 5,685,176. Conagra Brands Inc has a 52 week low of $20.22 and a 52 week high of $37.60. The firm’s 50-day simple moving average is $29.08 and its 200 day simple moving average is $28.84. The firm has a market capitalization of $13.67 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87. The company has a current ratio of 1.11, a quick ratio of 0.40 and a debt-to-equity ratio of 1.37.
Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, September 26th. The company reported $0.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.04. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.48 billion. Conagra Brands had a return on equity of 12.34% and a net margin of 6.68%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. On average, analysts predict that Conagra Brands Inc will post 2.12 earnings per share for the current year.
Several brokerages recently weighed in on CAG. UBS Group set a $32.00 target price on Conagra Brands and gave the company a “buy” rating in a report on Friday, June 28th. Credit Suisse Group reissued a “hold” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, September 19th. Bank of America set a $35.00 price target on Conagra Brands and gave the stock a “buy” rating in a research note on Friday, June 28th. Citigroup increased their target price on Conagra Brands from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Barclays set a $33.00 target price on Conagra Brands and gave the company a “buy” rating in a research note on Friday, September 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $33.64.
Hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Conagra Brands by 1.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 70,165 shares of the company’s stock worth $1,861,000 after purchasing an additional 683 shares during the last quarter. Cleararc Capital Inc. purchased a new position in Conagra Brands in the first quarter worth about $225,000. Dynamic Capital Management Ltd purchased a new position in Conagra Brands in the second quarter worth about $271,000. IFG Advisory LLC purchased a new position in Conagra Brands in the second quarter worth about $233,000. Finally, Mn Services Vermogensbeheer B.V. grew its position in Conagra Brands by 200.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 247,757 shares of the company’s stock worth $6,571,000 after acquiring an additional 165,400 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.
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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