Davis Capital Management Reduces Position in Conagra Brands, Inc. (NYSE:CAG)

Davis Capital Management lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAGFree Report) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,738 shares of the company’s stock after selling 598 shares during the period. Davis Capital Management’s holdings in Conagra Brands were worth $616,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Conagra Brands by 8.4% in the 3rd quarter. Van ECK Associates Corp now owns 25,225 shares of the company’s stock valued at $691,000 after buying an additional 1,944 shares during the period. Blair William & Co. IL grew its stake in shares of Conagra Brands by 86.7% in the 3rd quarter. Blair William & Co. IL now owns 41,133 shares of the company’s stock valued at $1,128,000 after buying an additional 19,097 shares during the period. Aviva PLC grew its stake in shares of Conagra Brands by 87.5% in the 3rd quarter. Aviva PLC now owns 501,776 shares of the company’s stock valued at $13,759,000 after buying an additional 234,117 shares during the period. Rafferty Asset Management LLC grew its stake in shares of Conagra Brands by 11.5% in the 3rd quarter. Rafferty Asset Management LLC now owns 35,596 shares of the company’s stock valued at $976,000 after buying an additional 3,679 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Conagra Brands in the 3rd quarter valued at approximately $1,902,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Insider Buying and Selling

In related news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were 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 $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.88% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAG. Wells Fargo & Company increased their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Citigroup upped their price objective on shares of Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, April 5th. Barclays lifted their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Finally, Stifel Nicolaus boosted their price target on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” 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. According to data from MarketBeat, Conagra Brands presently has an average rating of “Hold” and an average target price of $33.14.

Read Our Latest Stock Report on Conagra Brands

Conagra Brands Price Performance

CAG stock traded down $0.03 during trading on Wednesday, reaching $28.67. 4,192,084 shares of the company were exchanged, compared to its average volume of 3,534,945. The company has a market cap of $13.71 billion, a P/E ratio of 14.41, a PEG ratio of 2.81 and a beta of 0.32. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $34.75. The stock’s 50 day moving average price is $30.21 and its 200 day moving average price is $29.31. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95.

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

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date was Monday, April 29th. Conagra Brands’s dividend payout ratio is currently 70.35%.

Conagra Brands Company 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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