Traders Buy Large Volume of Conagra Brands Put Options (NYSE:CAG)

Conagra Brands, Inc. (NYSE:CAG) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 5,792 put options on the company. This is an increase of 44% compared to the average daily volume of 4,031 put options.

Conagra Brands Price Performance

CAG traded down $0.34 during trading on Wednesday, hitting $26.26. The company’s stock had a trading volume of 2,849,982 shares, compared to its average volume of 5,946,234. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 25.75, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The firm’s 50 day moving average price is $25.67 and its two-hundred day moving average price is $27.53. Conagra Brands has a 12 month low of $23.06 and a 12 month high of $33.24.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.33%. Conagra Brands’s dividend payout ratio is presently 137.25%.

Analyst Ratings Changes

A number of research analysts recently commented on CAG shares. Bank of America cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Citigroup decreased their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley initiated coverage on Conagra Brands in a report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.20.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. FMR LLC boosted its stake in Conagra Brands by 4.8% in the third quarter. FMR LLC now owns 1,478,380 shares of the company’s stock valued at $48,077,000 after acquiring an additional 67,079 shares during the last quarter. Townsquare Capital LLC bought a new position in shares of Conagra Brands in the 3rd quarter worth $283,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Conagra Brands by 235,250.0% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,707 shares of the company’s stock worth $153,000 after purchasing an additional 4,705 shares during the period. Public Sector Pension Investment Board increased its holdings in Conagra Brands by 16.7% in the third quarter. Public Sector Pension Investment Board now owns 21,000 shares of the company’s stock valued at $683,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Conagra Brands by 13.5% in the third quarter. Rockefeller Capital Management L.P. now owns 297,533 shares of the company’s stock valued at $9,675,000 after buying an additional 35,319 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

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.