Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS raised its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 0.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 759,142 shares of the company’s stock after purchasing an additional 4,888 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.16% of Conagra Brands worth $24,687,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in Conagra Brands by 237.9% in the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock valued at $2,281,000 after acquiring an additional 54,195 shares in the last quarter. SG Americas Securities LLC increased its holdings in Conagra Brands by 261.3% in the first quarter. SG Americas Securities LLC now owns 147,082 shares of the company’s stock valued at $4,360,000 after buying an additional 106,368 shares during the last quarter. M&G Plc acquired a new stake in Conagra Brands during the first quarter valued at approximately $7,429,000. UniSuper Management Pty Ltd lifted its holdings in Conagra Brands by 573.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock worth $1,128,000 after buying an additional 32,396 shares during the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Conagra Brands in the 3rd quarter worth approximately $3,829,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE:CAG traded down $0.18 during mid-day trading on Thursday, hitting $28.72. 465,197 shares of the company’s stock traded hands, compared to its average volume of 4,680,219. The firm has a market capitalization of $13.71 billion, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 2.96 and a beta of 0.34. The firm has a 50 day moving average of $30.78 and a two-hundred day moving average of $30.20. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. Conagra Brands, Inc. has a 12 month low of $26.62 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG) last announced its 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). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.84 billion. During the same period last year, the firm posted $0.66 EPS. The company’s revenue was down 3.8% compared to the same quarter last year. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 135.92%.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the sale, the chief operating officer now owns 161,443 shares in the company, valued at approximately $4,890,108.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Evercore ISI dropped their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Bank of America decreased their price target on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus 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.