Today Conagra Brands Incorporated (NYSE:CAG) Reported Decrease in Shorted Shares

  • Today Conagra Brands Incorporated (NYSE:CAG) Reported Decrease in Shorted Shares

Today Conagra Brands Incorporated (NYSE:CAG) Reported Decrease in Shorted Shares

(NYSE:CAG) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. IndexIQ Advisors LLC now owns 9,828 shares of the company's stock worth $352,000 after acquiring an additional 36 shares during the last quarter. It also reduced International Business Machine (NYSE:IBM) stake by 14,081 shares and now owns 228,616 shares.

Analysts See Conagra Brands, Inc. Sei Investments Co. now owns 203,639 shares of the company's stock worth $6,870,000 after purchasing an additional 50,960 shares during the period.

According to Zacks brokerage recommendations, Conagra Brands, Inc. Company insiders own 0.79% of the company's stock. MUFG Americas Holdings Corp raised its stake in Conagra Brands by 1.5% in the 2nd quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moreover, Philadelphia Trust Company has 0.03% invested in Conagra Brands, Inc. (NYSE:CAG) or 261 shares. A lower P/B ratio could mean that the stock is undervalued. The stock is now moving above its 20-Day Simple Moving Average of 1.91% with a 50-Day Simple Moving Average of 6.7 percent.

The stock of Conagra Brands Incorporated (NYSE:CAG) registered a decrease of 2.95% in short interest. (NYSE:CAG) rating on Thursday, December 14. With 2.49 million shares average volume, it will take short sellers 7 days to cover their CAG's short positions.

Conagra said its recent acquisitions such as Duke's meat snacks and Angie's BOOMCHICKAPOP popcorn contributed to higher sales in the grocery and snacks business, its biggest business by revenue, in the second quarter.

Conagra Brands Inc. said new products and bulk-buying ahead of hurricanes in the southern U.S helped the food maker return to sales growth in the latest quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Tuesday, January 30th will be issued a $0.213 dividend. The ex-dividend date is Monday, January 29th. At the current valuation, this equates to a dividend yield of 2.23%. This is a positive change from Conagra Brands's previous quarterly dividend of $0.21. Conagra Brands's payout ratio is 60.28%.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 3.94%, and has a solid year to date (YTD) performance of -4.3% which means that the stock is constantly adding to its value from the previous fiscal year end price. The shares were sold at an average price of $37.50, for a total transaction of $4,516,912.50. Daiwa Securities Group Inc. now owns 12,000 shares of the company's stock valued at $429,000 after purchasing an additional 700 shares in the last quarter. We view the company's better-than-expected second-quarter 2018 result as the primary reason behind the positive sentiment. Company insiders own 0.79% of the company's stock. (NYSE:CAG). Alpha Windward Limited Liability Corporation accumulated 3,646 shares. On Thursday, August 31 the stock rating was maintained by Stifel Nicolaus with "Hold". In September 2016, Conagra acquired Frontera Foods, a manufacturer of salsas and sauces. On Wednesday, December 16 the stock rating was initiated by Jefferies with "Buy".

ConAgra Foods, Inc. (NYSE:CAG) received a Buy rating from 2 analysts. The company presently has an average rating of "Buy" and an average target price of $40.70.

ILLEGAL ACTIVITY WARNING: This report was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of USA & global copyright & trademark legislation. RBC Capital Markets maintained Conagra Brands, Inc.

Conagra Brands, Inc, formerly ConAgra Foods, Inc, operates as a packaged food company. To walk around the gross margin figure of firm that looks at how well a company controls the cost of its inventory and the manufacturing of its products and subsequently pass on the costs to its consumers. The brands were added to the company's snacks portfolio that already included Slim Jim meat snacks, Chef Boyardee and David Seeds.