Elo Mutual Pension Insurance Co Purchases 1,054 Shares of Conagra Brands, Inc. (NYSE:CAG)

Elo Mutual Pension Insurance Co lifted its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 2.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,730 shares of the company’s stock after purchasing an additional 1,054 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Conagra Brands were worth $1,271,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Bessemer Group Inc. boosted its holdings in shares of Conagra Brands by 237.9% during the 1st quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after buying an additional 54,195 shares in the last quarter. Stifel Financial Corp boosted its stake in Conagra Brands by 12.2% during the fourth quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock worth $23,385,000 after acquiring an additional 88,576 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its stake in Conagra Brands by 663.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 436,698 shares of the company’s stock worth $12,516,000 after acquiring an additional 379,473 shares in the last quarter. SG Americas Securities LLC grew its holdings in Conagra Brands by 261.3% in the first quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock worth $4,360,000 after purchasing an additional 106,368 shares during the period. Finally, M&G Plc bought a new position in shares of Conagra Brands during the first quarter valued at approximately $7,429,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the transaction, the chief operating officer now owns 161,443 shares of the company’s stock, valued at $4,890,108.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by company insiders.

Conagra Brands Price Performance

CAG opened at $32.30 on Friday. The company’s 50-day simple moving average is $30.79 and its two-hundred day simple moving average is $29.99. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The stock has a market capitalization of $15.44 billion, a P/E ratio of 44.25, a P/E/G ratio of 2.88 and a beta of 0.32. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $33.24.

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

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Thursday, August 1st. Conagra Brands’s payout ratio is currently 191.78%.

Analyst Ratings Changes

A number of research firms recently weighed in on CAG. Stifel Nicolaus reduced their price objective on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, July 12th. Barclays reduced their price target on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Bank of America upped their price target on shares of Conagra Brands from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada decreased their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.10.

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.