Mutual of America Capital Management LLC Has $2.16 Million Position in Conagra Brands, Inc. (NYSE:CAG)

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Mutual of America Capital Management LLC increased its position in Conagra Brands, Inc. (NYSE:CAGGet Rating) by 1.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 64,343 shares of the company’s stock after acquiring an additional 693 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Conagra Brands were worth $2,160,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CAG. American Century Companies Inc. increased its stake in shares of Conagra Brands by 11.5% in the fourth quarter. American Century Companies Inc. now owns 14,420,111 shares of the company’s stock valued at $492,447,000 after buying an additional 1,489,272 shares during the period. Invesco Ltd. increased its position in Conagra Brands by 14.1% during the 4th quarter. Invesco Ltd. now owns 7,875,077 shares of the company’s stock valued at $268,936,000 after purchasing an additional 971,962 shares during the period. UMB Bank N A MO bought a new position in shares of Conagra Brands during the 4th quarter worth approximately $32,703,000. Alps Advisors Inc. bought a new position in shares of Conagra Brands during the 4th quarter worth approximately $24,867,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Conagra Brands by 53.4% during the 4th quarter. Renaissance Technologies LLC now owns 2,068,591 shares of the company’s stock worth $70,642,000 after buying an additional 720,291 shares in the last quarter. Institutional investors and hedge funds own 83.21% of the company’s stock.

Insider Buying and Selling at Conagra Brands

In other Conagra Brands news, Director Emanuel Chirico purchased 30,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was purchased at an average price of $34.06 per share, for a total transaction of $1,021,800.00. Following the completion of the purchase, the director now directly owns 40,788 shares of the company’s stock, valued at $1,389,239.28. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.10% of the stock is owned by company insiders.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $33.99 on Friday. The company’s fifty day simple moving average is $33.24 and its two-hundred day simple moving average is $34.08. Conagra Brands, Inc. has a 12-month low of $30.06 and a 12-month high of $36.97. The firm has a market cap of $16.32 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 2.01 and a beta of 0.61. The company has a quick ratio of 0.31, a current ratio of 0.86 and a debt-to-equity ratio of 0.91.

Conagra Brands (NYSE:CAGGet Rating) last announced its earnings results on Thursday, July 14th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.01. Conagra Brands had a return on equity of 12.99% and a net margin of 7.70%. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands, Inc. will post 2.41 EPS for the current year.

Conagra Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Wednesday, August 3rd will be paid a dividend of $0.33 per share. This is a boost from Conagra Brands’s previous quarterly dividend of $0.31. The ex-dividend date is Tuesday, August 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 3.88%. Conagra Brands’s payout ratio is presently 67.94%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CAG. Morgan Stanley cut their target price on Conagra Brands from $36.00 to $34.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. Deutsche Bank Aktiengesellschaft cut their target price on Conagra Brands from $35.00 to $32.00 in a report on Friday, July 15th. Citigroup cut their target price on Conagra Brands from $37.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, July 15th. Evercore ISI started coverage on Conagra Brands in a research report on Friday, April 8th. They issued a “buy” rating and a $40.00 price target for the company. Finally, UBS Group raised their target price on Conagra Brands from $34.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, July 8th. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $35.67.

Conagra Brands Company Profile

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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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