Sii Investments Inc. WI Has $268,000 Holdings in Conagra Brands Inc. (CAG)
Sii Investments Inc. WI trimmed its holdings in shares of Conagra Brands Inc. (NYSE:CAG) by 28.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,470 shares of the company’s stock after selling 3,015 shares during the quarter. Sii Investments Inc. WI’s holdings in Conagra Brands were worth $268,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. acquired a new position in Conagra Brands during the first quarter worth $110,000. Sun Life Financial INC grew its position in shares of Conagra Brands by 32,666.7% in the second quarter. Sun Life Financial INC now owns 2,949 shares of the company’s stock valued at $105,000 after purchasing an additional 2,940 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Conagra Brands by 143.7% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 3,139 shares of the company’s stock valued at $112,000 after purchasing an additional 1,851 shares during the last quarter. Alpha Windward LLC grew its position in shares of Conagra Brands by 5.8% in the second quarter. Alpha Windward LLC now owns 3,578 shares of the company’s stock valued at $128,000 after purchasing an additional 196 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Conagra Brands by 53.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,833 shares of the company’s stock valued at $137,000 after purchasing an additional 1,333 shares during the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.
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In related news, Director Ruth Ann Marshall sold 6,046 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $33.22, for a total value of $200,848.12. Following the completion of the transaction, the director now owns 89,260 shares of the company’s stock, valued at approximately $2,965,217.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.79% of the stock is owned by corporate insiders.
Shares of Conagra Brands Inc. (CAG) opened at 34.08 on Friday. The firm has a market cap of $14.15 billion, a price-to-earnings ratio of 24.50 and a beta of 0.31. The company has a 50 day moving average of $33.84 and a 200-day moving average of $36.57. Conagra Brands Inc. has a one year low of $32.16 and a one year high of $41.68.
Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Thursday, September 28th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. Conagra Brands had a net margin of 7.83% and a return on equity of 18.35%. The company had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. On average, analysts expect that Conagra Brands Inc. will post $1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Friday, October 13th will be paid a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Monday, October 30th. Conagra Brands’s payout ratio is 60.28%.
Conagra Brands declared that its Board of Directors has approved a stock buyback plan on Thursday, June 29th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have recently issued reports on CAG shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $45.00 price target on shares of Conagra Brands in a research report on Friday, September 29th. Bank of America Corporation reiterated a “buy” rating and issued a $43.00 target price (down previously from $44.00) on shares of Conagra Brands in a research note on Monday, June 26th. Jefferies Group LLC reiterated a “buy” rating on shares of Conagra Brands in a research note on Friday, June 16th. Credit Suisse Group reiterated a “hold” rating and issued a $39.00 target price on shares of Conagra Brands in a research note on Friday, August 11th. Finally, Zacks Investment Research upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Three analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Conagra Brands has a consensus rating of “Hold” and a consensus price target of $41.31.
Conagra Brands Company Profile
Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. The Company operates through two segments: Consumer Foods and Commercial Foods. The Company sells branded and customized food products, as well as commercially branded foods. It also supplies vegetable, spice and grain products to a range of restaurants, foodservice operators and commercial customers.
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