Sanctuary Advisors LLC Purchases New Holdings in Conagra Brands, Inc. (NYSE:CAG)

Sanctuary Advisors LLC acquired a new stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 26,669 shares of the company's stock, valued at approximately $829,000.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. boosted its position in Conagra Brands by 237.9% during the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company's stock worth $2,281,000 after purchasing an additional 54,195 shares during the period. SG Americas Securities LLC raised its holdings in Conagra Brands by 261.3% during the 1st quarter. SG Americas Securities LLC now owns 147,082 shares of the company's stock valued at $4,360,000 after acquiring an additional 106,368 shares during the period. M&G Plc purchased a new stake in shares of Conagra Brands during the first quarter worth $7,429,000. UniSuper Management Pty Ltd grew its position in shares of Conagra Brands by 573.4% in the first quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company's stock valued at $1,128,000 after purchasing an additional 32,396 shares in the last quarter. Finally, Alaska Permanent Fund Corp bought a new stake in shares of Conagra Brands during the 1st quarter valued at $1,398,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Down 0.2 %

Shares of NYSE CAG traded down $0.07 during midday trading on Friday, hitting $29.37. The stock had a trading volume of 2,714,547 shares, compared to its average volume of 4,775,295. Conagra Brands, Inc. has a 52 week low of $26.51 and a 52 week high of $33.24. The company has a market cap of $14.04 billion, a P/E ratio of 40.23, a PEG ratio of 3.01 and a beta of 0.32. The business's 50 day moving average is $31.17 and its 200-day moving average is $30.29. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.07). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. As a group, analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands's payout ratio is 191.78%.

Insider Activity at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of Conagra Brands stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the transaction, the chief operating officer now directly owns 161,443 shares in the company, valued at approximately $4,890,108.47. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.88% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAG. Citigroup reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a "neutral" rating for the company in a research report on Friday, June 28th. Royal Bank of Canada reiterated a "sector perform" rating and set a $29.00 price target on shares of Conagra Brands in a research report on Thursday, October 3rd. Evercore ISI decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company cut their price target on shares of Conagra Brands from $32.00 to $31.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 10th. Finally, BNP Paribas raised shares of Conagra Brands to a "strong-buy" rating in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $31.63.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.