Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. increased its stake in Conagra Brands, Inc. (NYSE:CAG) by 49.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,799 shares of the company’s stock after acquiring an additional 11,837 shares during the quarter. iA Global Asset Management Inc.’s holdings in Conagra Brands were worth $1,017,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new position in Conagra Brands in the 2nd quarter valued at about $25,000. First United Bank & Trust acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $26,000. Advantage Trust Co purchased a new position in Conagra Brands in the fourth quarter worth approximately $34,000. Whittier Trust Co. increased its stake in Conagra Brands by 144.4% during the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after acquiring an additional 836 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of Conagra Brands in the 1st quarter valued at $42,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.88% of the company’s stock.

Conagra Brands Price Performance

Conagra Brands stock opened at $31.20 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. The business has a 50 day simple moving average of $29.73 and a 200-day simple moving average of $29.55. Conagra Brands, Inc. has a 12 month low of $25.16 and a 12 month high of $31.82. The stock has a market capitalization of $14.92 billion, a PE ratio of 42.74, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. Equities analysts predict that Conagra Brands, Inc. will post 2.61 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Thursday, August 1st. Conagra Brands’s payout ratio is currently 191.78%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Conagra Brands in a report on Monday, August 12th. They issued a “buy” rating and a $36.00 price objective on the stock. Royal Bank of Canada dropped their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Barclays decreased their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Evercore ISI lowered their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, Citigroup lowered their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $30.90.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.