Many hedge funds and institutional investors are adjusting their positions in Conagra Brands. Federated Hermes increased its stake by 20.5%, owning 11 million shares worth $313 million. Dimensional Fund Advisors raised its stake by 17.2%, now holding 4.3 million shares valued at $122 million. Squarepoint Ops boosted its holdings by 148.2%, owning over 2.5 million shares valued at $72 million. Marshall Wace significantly increased its stake by 1,362.6%, now holding 2.4 million shares worth $68 million. Envestnet Asset Management raised its stake by 3.5%, owning about 2.3 million shares valued at $65 million. Overall, institutional investors own 83.75% of Conagra’s stock.
Insider Trading
COO Thomas M. Mcgough sold 40,000 shares on August 13th for $1.2 million. He retains 161,443 shares, valued at $4.9 million. Insiders own 0.88% of the stock.
Stock Performance
Conagra Brands’ stock (CAG) opened at $30.32. Its market cap is $14.49 billion, with a P/E ratio of 41.53. The stock has ranged from a low of $26.62 to a high of $33.24 over the past year.
Most recently, the company reported earnings of $0.53 per share, falling short of estimates. Revenue was $2.79 billion, below analyst expectations of $2.84 billion. Year-over-year revenue decreased by 3.8%.
Dividend Information
Conagra will pay a quarterly dividend of $0.35 on November 27th to shareholders on record by October 31st, yielding 4.62%. The dividend payout ratio is 191.78%.
Analyst Ratings
Analysts have mixed forecasts for Conagra. Citigroup lowered its target price from $32 to $30, while Goldman Sachs initiated coverage with a buy rating and a target of $36. Overall, the stock is rated “Hold” with a consensus target price of $31.63.
About Conagra Brands
Conagra Brands produces packaged food primarily in the U.S., with segments including Grocery & Snacks and Refrigerated & Frozen.
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