Conagra Brands, Inc. (NYSE:CAG) Short Interest Update

Conagra Brands, Inc. (NYSE:CAG) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 17,910,000 shares, a growth of 5.2% from the September 15th total of 17,030,000 shares. Currently, 3.8% of the company’s stock are sold short. Based on an average daily volume of 4,990,000 shares, the short-interest ratio is currently 3.6 days.

Conagra Brands Stock Performance

Shares of NYSE CAG traded up $0.59 during trading on Thursday, reaching $30.31. 6,675,142 shares of the stock traded hands, compared to its average volume of 4,774,871. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. The stock has a market capitalization of $14.49 billion, a P/E ratio of 41.52, a price-to-earnings-growth ratio of 3.01 and a beta of 0.32. Conagra Brands has a 52-week low of $26.62 and a 52-week high of $33.24. The company has a 50-day moving average of $31.15 and a 200-day moving average of $30.29.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data 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 during 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 was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.66 earnings per share. Analysts forecast that Conagra Brands will post 2.59 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

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 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is presently 191.78%.

Insider Transactions at Conagra Brands

In other Conagra Brands 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 transaction, the chief operating officer now directly 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 is accessible through the SEC website. Company insiders own 0.88% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Inspire Advisors LLC lifted its holdings in Conagra Brands by 6.9% during the 3rd quarter. Inspire Advisors LLC now owns 53,411 shares of the company’s stock worth $1,737,000 after purchasing an additional 3,433 shares in the last quarter. Trust Point Inc. bought a new stake in shares of Conagra Brands during the third quarter valued at about $214,000. Aaron Wealth Advisors LLC lifted its holdings in shares of Conagra Brands by 40.9% in the third quarter. Aaron Wealth Advisors LLC now owns 10,507 shares of the company’s stock worth $342,000 after buying an additional 3,049 shares in the last quarter. Stonegate Investment Group LLC boosted its position in shares of Conagra Brands by 151.3% in the third quarter. Stonegate Investment Group LLC now owns 25,097 shares of the company’s stock valued at $816,000 after acquiring an additional 15,110 shares during the period. Finally, V Square Quantitative Management LLC grew its stake in Conagra Brands by 6.0% during the third quarter. V Square Quantitative Management LLC now owns 14,594 shares of the company’s stock valued at $475,000 after acquiring an additional 823 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on CAG shares. Citigroup dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Stifel Nicolaus dropped their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, July 12th. Evercore ISI reduced their price objective on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. The Goldman Sachs Group initiated coverage on Conagra Brands in a research note on Monday, August 12th. They set a “buy” rating and a $36.00 target price on the stock. Finally, BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus target price 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.