T. Rowe Price Associates, Inc. recently announced the acquisition of new stake in Conagra Brands Inc (NYSE:CAG). The institutional investor has increased its shareholding in the Consumer Defensive company by 11.91% to 24.85 million shares with purchase of 2.65 million shares. This fresh investment now brings its stake to 5.20% valued currently at $712.33 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.3 million to 23.68 million shares. And American Century Investment Manag has lifted its position by 13.97% or 1.74 million shares – to 14.17 million shares.
Currently, there are 477.02M common shares owned by the public and among those 432.80M shares have been available to trade.
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Insiders at the company have transacted a total of 52 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 33 of these insider trades were purchases, accounting for 798,004 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 380,379 shares.
The top 3 mutual fund holders in Conagra Brands Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 15.0 million shares of the company’s stock, all valued at over $429.95 million. The company bought an additional 11907.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund bought 20848.0 shares to see its total holdings expand to 11.67 million shares valued at over $334.34 million and representing 2.44% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.16 million shares to bring its total holdings to over 10.7 million shares at a value of $306.76 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.24% of the shares outstanding.
However, the script later moved the day high at 29.88, down -0.20%. The company’s stock has a 5-day price change of 3.49% and 6.74% over the past three months. CAG shares are trading 3.35% year to date (YTD), with the 12-month market performance down to -20.25% lower. It has a 12-month low price of $25.16 and touched a high of $38.94 over the same period. CAG has an average intraday trading volume of 4.44 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.41%, 2.79%, and -5.20% respectively.
Institutional ownership of Conagra Brands Inc (NYSE: CAG) shares accounts for 85.86% of the company’s 477.02M shares outstanding. Mutual fund holders own 5.48%, while other institutional holders and individual stakeholders account for 50.36% and 36.07% respectively.
It has a market capitalization of $14.16B and a beta (3y monthly) value of 0.43. The stock’s trailing 12-month PE ratio is 14.42, while the earnings-per-share (ttm) stands at $2.05. The company has a PEG of 14.72 and a Quick Ratio of 0.31 with the debt-to-equity ratio at 1.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.72% over the week and 2.06% over the month.
Analysts forecast that Conagra Brands Inc (CAG) will achieve an EPS of $0.64 for the current quarter, $0.59 for the next quarter and $2.69 for 2025. The lowest estimate earnings-per-share for the quarter is $0.61 while analysts give the company a high EPS estimate of $0.67. Comparatively, EPS for the current quarter was $0.76 a year ago. Earnings per share for the fiscal year are expected to decrease by -6.00%, and 3.56% over the next financial year. EPS should grow at an annualized rate of 0.98% over the next five years, compared to -6.45% over the past 5-year period.
Looking at the support for the CAG, a number of firms have released research notes about the stock. Wells Fargo stated their Equal Weight rating for the stock in a research note on December 12, 2023, with the firm’s price target at $31.
