Colleen Batcheler Sells 72,480 Shares of Conagra Brands, Inc. (NYSE:CAG) Stock

Conagra Brands, Inc. (NYSE:CAGGet Rating) EVP Colleen Batcheler sold 72,480 shares of the business’s stock in a transaction dated Tuesday, April 19th. The shares were sold at an average price of $36.02, for a total value of $2,610,729.60. Following the completion of the sale, the executive vice president now owns 159,944 shares in the company, valued at $5,761,182.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of CAG stock opened at $36.12 on Friday. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 16.84, a PEG ratio of 2.17 and a beta of 0.77. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.33 and a current ratio of 0.83. The company has a 50-day simple moving average of $33.95 and a 200 day simple moving average of $33.59. Conagra Brands, Inc. has a 52 week low of $30.06 and a 52 week high of $39.09.

Conagra Brands (NYSE:CAGGet Rating) last announced its earnings results on Thursday, April 7th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.84 billion. Conagra Brands had a net margin of 9.14% and a return on equity of 12.46%. Conagra Brands’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.59 EPS. Sell-side analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, April 29th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Thursday, April 28th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.46%. Conagra Brands’s dividend payout ratio (DPR) is currently 58.14%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Conagra Brands by 96.2% in the first quarter. Allworth Financial LP now owns 2,188 shares of the company’s stock valued at $74,000 after acquiring an additional 1,073 shares during the period. Truist Financial Corp boosted its position in shares of Conagra Brands by 16.5% in the first quarter. Truist Financial Corp now owns 604,977 shares of the company’s stock valued at $20,309,000 after acquiring an additional 85,613 shares during the period. Strs Ohio boosted its position in shares of Conagra Brands by 6,102.3% in the first quarter. Strs Ohio now owns 338,457 shares of the company’s stock valued at $11,362,000 after acquiring an additional 333,000 shares during the period. Empirical Finance LLC boosted its position in shares of Conagra Brands by 4.7% in the first quarter. Empirical Finance LLC now owns 22,190 shares of the company’s stock valued at $745,000 after acquiring an additional 998 shares during the period. Finally, Inspire Investing LLC bought a new position in shares of Conagra Brands during the first quarter worth approximately $364,000. Institutional investors own 83.79% of the company’s stock.

CAG has been the subject of several research reports. StockNews.com initiated coverage on shares of Conagra Brands in a research note on Thursday, March 31st. They set a “hold” rating for the company. Consumer Edge cut shares of Conagra Brands from an “overweight” rating to an “equal weight” rating and set a $34.00 price target on the stock. in a research report on Tuesday, March 8th. Zacks Investment Research raised shares of Conagra Brands from a “sell” rating to a “hold” rating and set a $35.00 price target on the stock in a research report on Wednesday, March 30th. Morgan Stanley boosted their price target 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, January 7th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Conagra Brands from $36.00 to $35.00 in a research note on Friday, January 7th. Twelve analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.00.

Conagra Brands Company Profile (Get Rating)

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods 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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