Stock of the Week
Discover Financial Services (DFS, +1) – Carlos Minetti (EVP- President of Consumer Banking; joined 2001) purchased 3,000 shares on January 27th at $73.74, spending $221,000 and increasing his holdings to 154,171 shares. This is Minetti’s first open market purchase in the stock despite being with the company for 19 years. He has been a regular seller under a plan, his last sale was in April 2019 at $72. We ranked this stock +N yesterday based on purchases from the CEO, CFO, and the Chief Legal Officer. This is now the largest cluster of buying we have seen in the stock.
Conagra Brands – (CAG, +1) – Craig Omtvedt (Director since 2016) purchased 40,000 shares on January 2nd at $33.99, spending $1.4 million and more than doubling his holdings to 75,000 shares. We have Omtvedt ranked as a “Smart Buyer” based on his activity in OSK, BGC, and CAG. His last and only other purchase in CAG was for $670,000 in June 2019 at $26.73. It is interesting to see him six months later make an even larger purchase and at a higher price point.