Intact Investment Management Inc. Makes New Investment in Conagra Brands, Inc. (NYSE:CAG)

Intact Investment Management Inc. bought a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 2,200 shares of the company’s stock, valued at approximately $72,000.

Other large investors also recently bought and sold shares of the company. Forum Financial Management LP acquired a new stake in shares of Conagra Brands during the 3rd quarter worth approximately $268,000. Robeco Institutional Asset Management B.V. raised its position in shares of Conagra Brands by 108.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 622,745 shares of the company’s stock worth $20,252,000 after purchasing an additional 323,742 shares during the period. BSW Wealth Partners acquired a new stake in shares of Conagra Brands during the 3rd quarter worth approximately $397,000. Van ECK Associates Corp raised its position in shares of Conagra Brands by 49.4% during the 3rd quarter. Van ECK Associates Corp now owns 22,669 shares of the company’s stock worth $737,000 after purchasing an additional 7,500 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in shares of Conagra Brands by 15.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 8,850 shares of the company’s stock worth $288,000 after purchasing an additional 1,207 shares during the period. Institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research reports. Bank of America dropped their price target on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. The Goldman Sachs Group initiated coverage on Conagra Brands in a research report on Monday, August 12th. They set a “buy” rating and a $36.00 price target on the stock. Wells Fargo & Company increased their price target on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Barclays lowered their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $29.08 on Wednesday. The stock has a fifty day moving average price of $30.87 and a two-hundred day moving average price of $30.22. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.33 and a current ratio of 0.94. The firm has a market cap of $13.88 billion, a P/E ratio of 28.23, a PEG ratio of 2.98 and a beta of 0.34. Conagra Brands, Inc. has a 1 year low of $26.62 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last issued 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 firm 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 business’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 business posted $0.66 earnings per share. Research analysts forecast that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s payout ratio is currently 135.92%.

Insider Buying and Selling at Conagra Brands

In other news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s 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 completion of the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.51% of the stock is currently owned by corporate insiders.

About Conagra Brands

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.