$1 Million Bet On Conagra Brands? 3 Stocks Insiders Are Buying

$1 Million Bet On Conagra Brands? 3 Stocks Insiders Are Buying

Although US stocks closed lower on Tuesday, there were a few notable insider trades.

When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.

Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform.

Texas Capital Bancshares

  • The Trade: Texas Capital Bancshares, Inc. TCBI Director Robert Stallings acquired a total of 44,430 shares at an average price of $54.71. To acquire these shares, it cost around $2.43 million.
  • What’s Happening: The company recently posted downbeat quarterly earnings.
  • What Texas Capital Bancshares Does: Texas Capital Bancshares Inc is a secured lender, with the majority of the loans held for investment, excluding mortgage finance loans and other national lines of business.

Conagra Brands

  • The Trade: Conagra Brands, Inc. CAG Director Emanuel Chirico acquired a total of 30,000 shares at an average price of $34.06. To acquire these shares, it cost around $1.02 million.
  • What’s Happening: Conagra Brands recently said its Board of Directors approved a 5.6% increase in quarterly dividend payment to $0.33 per share.
  • What Conagra Brands Does: Conagra Brands is a packaged food company that operates predominantly in the United States (over 90% of revenue and profits).

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Also check this: Walmart To $142? Plus This Analyst Raises Price Target On McDonald's

Keurig Dr Pepper

  • The Trade: Keurig Dr Pepper Inc. KDP Chief Supply Chain Officer Anthony Maurice Milikin bought a total of 12,979 shares at an average price of $36.72. To acquire these shares, it cost around $476.59 thousand.
  • What’s Happening: JP Morgan recently maintained Keurig Dr Pepper with an Overweight and lowered the price target from $44 to $42.
  • What Keurig Dr Pepper Does: Keurig Dr Pepper, the product of a 2018 merger between Dr Pepper Snapple and Keurig Green Mountain, is the third-largest nonalcoholic beverage company in North America.

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