SG Americas Securities LLC Grows Stock Holdings in Conagra Brands Inc (NYSE:CAG)
SG Americas Securities LLC lifted its stake in Conagra Brands Inc (NYSE:CAG) by 25.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,926 shares of the company’s stock after purchasing an additional 22,284 shares during the period. SG Americas Securities LLC’s holdings in Conagra Brands were worth $2,942,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. First Allied Advisory Services Inc. boosted its holdings in Conagra Brands by 2.7% in the first quarter. First Allied Advisory Services Inc. now owns 14,258 shares of the company’s stock valued at $397,000 after purchasing an additional 371 shares during the period. Eqis Capital Management Inc. boosted its holdings in Conagra Brands by 4.1% in the first quarter. Eqis Capital Management Inc. now owns 9,947 shares of the company’s stock valued at $276,000 after purchasing an additional 396 shares during the period. Hartford Investment Management Co. boosted its holdings in Conagra Brands by 0.3% in the second quarter. Hartford Investment Management Co. now owns 133,048 shares of the company’s stock valued at $3,528,000 after purchasing an additional 401 shares during the period. Old North State Trust LLC boosted its holdings in Conagra Brands by 20.7% in the second quarter. Old North State Trust LLC now owns 2,358 shares of the company’s stock valued at $63,000 after purchasing an additional 405 shares during the period. Finally, O Shares Investment Advisers LLC boosted its holdings in Conagra Brands by 3.0% in the first quarter. O Shares Investment Advisers LLC now owns 13,974 shares of the company’s stock valued at $388,000 after purchasing an additional 408 shares during the period. Hedge funds and other institutional investors own 88.13% of the company’s stock.
A number of brokerages have issued reports on CAG. Zacks Investment Research raised Conagra Brands from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a report on Monday, July 8th. Citigroup decreased their price target on Conagra Brands from $36.00 to $34.00 and set a “buy” rating for the company in a report on Friday, June 28th. Morgan Stanley began coverage on Conagra Brands in a report on Monday, May 20th. They set an “equal weight” rating and a $31.00 price target for the company. Evercore ISI began coverage on Conagra Brands in a report on Tuesday, June 11th. They set an “outperform” rating and a $36.00 price target for the company. Finally, UBS Group set a $32.00 price target on Conagra Brands and gave the stock a “buy” rating in a report on Friday, June 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $34.42.
CAG opened at $28.91 on Wednesday. The business’s 50-day moving average price is $28.20. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.28 and a quick ratio of 0.54. Conagra Brands Inc has a one year low of $20.22 and a one year high of $38.43. The firm has a market capitalization of $14.05 billion, a PE ratio of 14.38, a P/E/G ratio of 1.94 and a beta of 0.86.
Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, June 27th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by ($0.06). Conagra Brands had a return on equity of 13.74% and a net margin of 7.11%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm posted $0.50 EPS. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. As a group, equities research analysts forecast that Conagra Brands Inc will post 2.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Tuesday, July 30th will be given a $0.2125 dividend. This represents a $0.85 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Monday, July 29th. Conagra Brands’s dividend payout ratio (DPR) is presently 42.29%.
About Conagra Brands
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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