Armistice Capital LLC Purchases Shares of 29,969 Conagra Brands, Inc. (NYSE:CAG)

Armistice Capital LLC purchased a new position in shares of Conagra Brands, Inc. (NYSE:CAGFree Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 29,969 shares of the company’s stock, valued at approximately $859,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WealthPlan Investment Management LLC acquired a new position in shares of Conagra Brands in the third quarter valued at approximately $378,000. Jump Financial LLC bought a new stake in shares of Conagra Brands in the third quarter valued at about $771,000. Kingsview Wealth Management LLC acquired a new position in shares of Conagra Brands in the third quarter valued at about $205,000. Kestra Private Wealth Services LLC grew its stake in shares of Conagra Brands by 32.3% in the third quarter. Kestra Private Wealth Services LLC now owns 36,246 shares of the company’s stock valued at $994,000 after acquiring an additional 8,841 shares in the last quarter. Finally, New York Life Investment Management LLC increased its position in Conagra Brands by 2.9% during the third quarter. New York Life Investment Management LLC now owns 84,677 shares of the company’s stock worth $2,322,000 after acquiring an additional 2,414 shares during the period. Institutional investors own 83.75% of the company’s stock.

Insider Transactions at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the sale, the executive vice president now owns 113,254 shares of the company’s stock, valued at approximately $3,439,523.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.88% of the company’s stock.

Conagra Brands Stock Performance

Shares of NYSE:CAG traded down $0.44 during midday trading on Wednesday, reaching $29.56. The company had a trading volume of 941,010 shares, compared to its average volume of 4,699,355. The stock has a market cap of $14.13 billion, a P/E ratio of 15.08, a P/E/G ratio of 2.91 and a beta of 0.32. The company’s 50 day moving average price is $30.42 and its 200 day moving average price is $29.25. The company has a current ratio of 0.95, a quick ratio of 0.33 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $35.12.

Conagra Brands (NYSE:CAGGet Free Report) last issued its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th were given a dividend of $0.35 per share. The ex-dividend date was Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.74%. Conagra Brands’s dividend payout ratio is presently 70.35%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CAG shares. Barclays boosted their price target on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their target price on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a report on Friday, April 5th. Citigroup boosted their price target on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company increased their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and an average target price of $33.14.

Check Out Our Latest Research Report on CAG

Conagra Brands Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Conagra Brands (NYSE:CAG)

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