35,300 Shares in Conagra Brands, Inc. (NYSE:CAG) Acquired by MBB Public Markets I LLC

MBB Public Markets I LLC acquired a new position in Conagra Brands, Inc. (NYSE:CAG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 35,300 shares of the company’s stock, valued at approximately $1,003,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chilton Capital Management LLC purchased a new position in shares of Conagra Brands in the second quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in Conagra Brands during the 2nd quarter worth approximately $25,000. Whittier Trust Co. raised its stake in Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after acquiring an additional 836 shares during the period. LRI Investments LLC bought a new stake in Conagra Brands during the 1st quarter worth approximately $44,000. Finally, Security National Bank bought a new stake in Conagra Brands during the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.2 %

Shares of CAG opened at $32.52 on Tuesday. The company’s fifty day moving average is $31.22 and its 200 day moving average is $30.23. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $33.24. The stock has a market capitalization of $15.55 billion, a PE ratio of 44.55, a P/E/G ratio of 2.95 and a beta of 0.32. 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 (NYSE:CAG) last announced its quarterly earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate 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 analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the business posted $0.62 earnings per share. Conagra Brands’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that Conagra Brands, Inc. will post 2.61 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 1st were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend was Thursday, August 1st. Conagra Brands’s dividend payout ratio is presently 191.78%.

Wall Street Analyst Weigh In

CAG has been the topic of a number of recent analyst reports. Citigroup decreased their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research note on Friday, June 28th. Evercore ISI decreased their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Barclays reduced their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. The Goldman Sachs Group assumed coverage on shares of Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price objective on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $31.10.

Insider Buying and Selling

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

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.