Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Ignite Planners LLC

Ignite Planners LLC trimmed its position in Conagra Brands, Inc. (NYSE:CAG) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,152 shares of the company’s stock after selling 1,917 shares during the quarter. Ignite Planners LLC’s holdings in Conagra Brands were worth $420,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in Conagra Brands by 14.0% during the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after buying an additional 1,737,380 shares during the period. Federated Hermes Inc. increased its position in shares of Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after purchasing an additional 1,330,249 shares during the last quarter. Northern Trust Corp increased its position in shares of Conagra Brands by 3.8% in the 3rd quarter. Northern Trust Corp now owns 6,002,366 shares of the company’s stock valued at $164,585,000 after purchasing an additional 220,024 shares during the last quarter. Norges Bank purchased a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $140,473,000. Finally, Deutsche Bank AG increased its position in shares of Conagra Brands by 28.6% in the 3rd quarter. Deutsche Bank AG now owns 2,951,129 shares of the company’s stock valued at $80,920,000 after purchasing an additional 657,170 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Citigroup upped their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Barclays upped 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, Wells Fargo & Company increased their price target 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 equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $33.14.

Conagra Brands Stock Performance

Shares of CAG opened at $29.35 on Tuesday. The company has a 50-day simple moving average of $30.12 and a 200-day simple moving average of $29.29. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $14.03 billion, a PE ratio of 14.75, a P/E/G ratio of 2.82 and a beta of 0.32. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $34.50.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue was down 1.7% compared to the same quarter last year. Equities research analysts predict that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 30th. Investors of record on Tuesday, April 30th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.77%. Conagra Brands’s dividend payout ratio is presently 70.35%.

Insider Buying and Selling

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