Retirement Systems of Alabama Boosts Position in Conagra Brands Inc (NYSE:CAG)
Retirement Systems of Alabama boosted its position in shares of Conagra Brands Inc (NYSE:CAG) by 0.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 226,610 shares of the company’s stock after purchasing an additional 489 shares during the quarter. Retirement Systems of Alabama’s holdings in Conagra Brands were worth $6,010,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in Conagra Brands by 20.9% during the first quarter. BlackRock Inc. now owns 43,165,563 shares of the company’s stock worth $1,197,414,000 after purchasing an additional 7,469,653 shares in the last quarter. FMR LLC boosted its position in Conagra Brands by 27.2% during the first quarter. FMR LLC now owns 14,183,529 shares of the company’s stock worth $393,451,000 after purchasing an additional 3,031,757 shares in the last quarter. Geode Capital Management LLC boosted its position in Conagra Brands by 36.8% during the fourth quarter. Geode Capital Management LLC now owns 6,848,679 shares of the company’s stock worth $146,052,000 after purchasing an additional 1,840,875 shares in the last quarter. Norges Bank purchased a new stake in Conagra Brands during the fourth quarter worth $123,197,000. Finally, Coho Partners Ltd. boosted its position in Conagra Brands by 13.6% during the first quarter. Coho Partners Ltd. now owns 4,357,850 shares of the company’s stock worth $120,887,000 after purchasing an additional 520,982 shares in the last quarter. Institutional investors own 88.40% of the company’s stock.
A number of analysts have commented on the company. ValuEngine upgraded William Lyon Homes from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 10th. SunTrust Banks restated a “hold” rating and issued a $8.00 price objective on shares of TrueCar in a research report on Tuesday, May 14th. Credit Suisse Group upped their price objective on Delta Air Lines from $37.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. UBS Group set a $170.00 price objective on United Rentals and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Zacks Investment Research upgraded Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $34.42.
Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, June 27th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.06). The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.66 billion. Conagra Brands had a net margin of 7.11% and a return on equity of 13.74%. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, research analysts predict that Conagra Brands Inc will post 2.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, July 30th will be paid a $0.2125 dividend. The ex-dividend date is Monday, July 29th. This represents a $0.85 annualized dividend and a yield of 2.96%. Conagra Brands’s payout ratio is currently 42.29%.
In related news, Director Ruth Ann Marshall sold 5,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $28.50, for a total value of $142,500.00. Following the completion of the transaction, the director now directly owns 101,887 shares in the company, valued at $2,903,779.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig P. Omtvedt bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $26.73 per share, with a total value of $668,250.00. The disclosure for this purchase can be found here. Insiders sold 11,000 shares of company stock valued at $308,850 over the last quarter. Insiders own 0.92% of the company’s stock.
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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