Evolution Wealth Advisors LLC Increases Position in Conagra Brands Inc (NYSE:CAG)
Evolution Wealth Advisors LLC boosted its holdings in Conagra Brands Inc (NYSE:CAG) by 530.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 832 shares of the company’s stock after purchasing an additional 700 shares during the quarter. Evolution Wealth Advisors LLC’s holdings in Conagra Brands were worth $30,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Tower Research Capital LLC TRC increased its position in Conagra Brands by 694.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,033 shares of the company’s stock valued at $30,000 after purchasing an additional 903 shares during the period. NuWave Investment Management LLC purchased a new position in Conagra Brands during the 2nd quarter valued at about $30,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Conagra Brands in the 2nd quarter worth approximately $32,000. RMR Wealth Builders purchased a new position in shares of Conagra Brands in the 2nd quarter worth approximately $32,000. Finally, Provident Wealth Management LLC purchased a new position in shares of Conagra Brands in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 81.14% of the company’s stock.
In other Conagra Brands news, EVP Colleen Batcheler sold 6,629 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $36.29, for a total value of $240,566.41. Following the transaction, the executive vice president now owns 169,873 shares of the company’s stock, valued at $6,164,691.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Biegger sold 33,634 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $37.66, for a total transaction of $1,266,656.44. Following the completion of the transaction, the executive vice president now directly owns 66,697 shares in the company, valued at approximately $2,511,809.02. The disclosure for this sale can be found here. Insiders sold 81,428 shares of company stock valued at $3,051,734 in the last three months. 2.60% of the stock is currently owned by insiders.
Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Tuesday, October 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.13. Conagra Brands had a net margin of 8.77% and a return on equity of 15.77%. The firm had revenue of $2.68 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Conagra Brands’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts predict that Conagra Brands Inc will post 2.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Monday, November 2nd will be issued a $0.275 dividend. The ex-dividend date is Friday, October 30th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.90%. This is a positive change from Conagra Brands’s previous quarterly dividend of $0.21. Conagra Brands’s dividend payout ratio is currently 37.28%.
A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Conagra Brands from $32.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, July 1st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Conagra Brands in a research report on Thursday, August 13th. ValuEngine raised shares of Conagra Brands from a “strong sell” rating to a “sell” rating in a research report on Monday, August 3rd. Credit Suisse Group lifted their price objective on shares of Conagra Brands from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 1st. Finally, Morgan Stanley lifted their price objective on shares of Conagra Brands from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Friday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $36.07.
Conagra Brands Company Profile
Conagra Brands, Inc, together with its subsidiaries, operates as a food company in North America. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products in various retail channels in the United States.
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