Choreo LLC Invests $418,000 in Conagra Brands, Inc. (NYSE:CAG)

Choreo LLC acquired a new position in Conagra Brands, Inc. (NYSE:CAG) in the 2nd quarter, HoldingsChannel reports. The firm acquired 14,754 shares of the company’s stock, valued at approximately $418,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CAG. Innealta Capital LLC purchased a new stake in shares of Conagra Brands in the second quarter worth approximately $25,000. Chilton Capital Management LLC bought a new position in shares of Conagra Brands in the second quarter valued at approximately $25,000. Whittier Trust Co. grew its holdings in shares of Conagra Brands by 144.4% in the first quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after acquiring an additional 836 shares in the last quarter. LRI Investments LLC bought a new position in shares of Conagra Brands in the first quarter valued at approximately $42,000. Finally, Security National Bank bought a new position in shares of Conagra Brands in the fourth quarter valued at approximately $48,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the firm’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 sale, the chief operating officer now owns 161,443 shares in the company, valued at $4,890,108.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Conagra Brands Trading Up 1.7 %

Shares of CAG stock opened at $32.60 on Tuesday. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $33.24. The company has a market capitalization of $15.58 billion, a PE ratio of 44.66, a price-to-earnings-growth ratio of 2.88 and a beta of 0.32. The business’s fifty day moving average is $30.56 and its 200 day moving average is $29.92.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the business posted $0.62 earnings per share. The firm’s revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were given a $0.35 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.29%. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CAG. Royal Bank of Canada reduced their target price on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Barclays reduced their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Citigroup reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Wells Fargo & Company reduced their price objective on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Evercore ISI reduced their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.78.

Conagra Brands Profile

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.