A Director at Conagra Brands (NYSE: CAG) is Buying Shares

By Carrie Williams

Yesterday, a Director at Conagra Brands (CAGResearch Report), Joie Gregor, bought shares of CAG for $352.4K.

Following this transaction Joie Gregor’s holding in the company was increased by 16.73% to a total of $2.25 million. Following Joie Gregor’s last CAG Buy transaction on April 18, 2019, the stock climbed by 6.2%.

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Based on Conagra Brands’ latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $3.29 billion and quarterly net profit of $201 million. In comparison, last year the company earned revenue of $2.61 billion and had a net profit of $127 million. The company has a one-year high of $36.05 and a one-year low of $22.83. CAG’s market cap is $17.37 billion and the company has a P/E ratio of 22.50.

Based on 11 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $37.33, reflecting a -3.8% downside. Four different firms, including Barclays and Jefferies, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $653.3K worth of CAG shares and purchased $352.4K worth of CAG shares. The insider sentiment on Conagra Brands has been negative according to 65 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Conagra Brands, Inc. engages in the manufacture and sale of processed and packaged foods. It operates through the following segments: Grocery and Snacks; Refrigerated and Frozen; International; Foodservice; and Pinnacle Foods. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States. The Refrigerated and Frozen segment comprises branded, temperature controlled food products sold in various retail channels in the United States. The International segment consists branded food products, in various temperature states, sold in various retail and foodservice channels outside of the United States. The Foodservice segment focuses in the branded and customized food products, including meals, entrees, sauces, and a variety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments in the United States. The Pinnacle Foods segment involves in the commercially branded and private label food and ingredients, in various temperature states, sold in various retail and foodservice channels in the United States and Canada. The company was founded by Alva Kinney and Frank Little in 1919 and is headquartered in Chicago, IL.