A Director at Conagra Brands Inc is Exercising Options

Today it was reported that a Director at Conagra Brands Inc (CAGResearch Report), Richard Lenny, exercised options to buy 7,053 CAG shares at $11.37 a share, for a total transaction value of $80.19K. The options were close to expired and Richard Lenny retained stocks.

This recent transaction increases Richard Lenny’s holding in the company by 14.41% to a total of $1.29 million. This is Lenny’s first transaction since reporting a Sell transaction on DFS back in January 2018

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Based on Conagra Brands Inc’s latest earnings report for the quarter ending November 30, the company posted quarterly revenue of $2.38 billion and quarterly net profit of $132 million. In comparison, last year the company earned revenue of $1.99 billion and had a net profit of $363 million. CAG’s market cap is $11.19B and the company has a P/E ratio of 12.51. Currently, Conagra Brands Inc has an average volume of 7.97M.

Based on 7 analyst ratings, the analyst consensus is Strong Buy with an average price target of $33.50, reflecting a 45.1% upside. Six different firms, including Jefferies and RBC Capital, currently also have a Buy rating on the stock.

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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 Commercial Foods. The Grocery and Snacks segment includes branded, shelf stable food products sold in various retail channels in the United States.