Insider Selling: Conagra Brands Inc (NYSE:CAG) EVP Sells 25,458 Shares of Stock

Share on StockTwits

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.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Friday, November 1st will be issued a $0.2125 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.85 annualized dividend and a dividend yield of 2.99%. Conagra Brands’s dividend payout ratio (DPR) is 42.29%.

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.

See Also: What factors cause inflation to rise?

Insider Buying and Selling by Quarter for Conagra Brands (NYSE:CAG)

Receive News & Ratings for Conagra Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conagra Brands and related companies with MarketBeat.com's FREE daily email newsletter.