Weatherly Asset Management L. P. Reduces Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Weatherly Asset Management L. P. decreased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,084 shares of the company’s stock after selling 1,145 shares during the period. Weatherly Asset Management L. P.’s holdings in Conagra Brands were worth $232,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Riverview Trust Co lifted its holdings in Conagra Brands by 132.8% during the 3rd quarter. Riverview Trust Co now owns 945 shares of the company’s stock valued at $26,000 after buying an additional 539 shares in the last quarter. Naples Money Management LLC purchased a new stake in shares of Conagra Brands in the fourth quarter valued at approximately $26,000. Thompson Investment Management Inc. boosted its holdings in shares of Conagra Brands by 100.0% in the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock valued at $27,000 after purchasing an additional 500 shares during the period. Authentikos Wealth Advisory LLC bought a new position in Conagra Brands in the third quarter worth approximately $33,000. Finally, Parkside Financial Bank & Trust increased its holdings in Conagra Brands by 48.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after purchasing an additional 454 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock traded up $0.40 during mid-day trading on Wednesday, reaching $31.67. 2,095,638 shares of the company traded hands, compared to its average volume of 5,058,891. The firm’s fifty day moving average is $28.98 and its two-hundred day moving average is $28.61. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 3.12 and a beta of 0.42. Conagra Brands, Inc. has a fifty-two week low of $25.16 and a fifty-two week high of $38.73. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the prior year, the firm earned $0.76 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be given a $0.35 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.42%. Conagra Brands’s dividend payout ratio is currently 70.35%.

Analysts Set New Price Targets

CAG has been the topic of a number of recent research reports. Royal Bank of Canada dropped their price target on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Wells Fargo & Company upped their price target on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Barclays boosted their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Stifel Nicolaus increased their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research report on Friday, April 5th. Finally, Citigroup upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.14.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.