Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC reduced its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,404 shares of the company’s stock after selling 4,954 shares during the period. Verdence Capital Advisors LLC’s holdings in Conagra Brands were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CAG. Invesco Ltd. increased its stake in Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after purchasing an additional 2,619,372 shares in the last quarter. American Century Companies Inc. increased its stake in Conagra Brands by 14.0% in the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after purchasing an additional 1,737,380 shares in the last quarter. Barclays PLC increased its stake in Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after purchasing an additional 1,614,986 shares in the last quarter. Federated Hermes Inc. increased its stake in Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after purchasing an additional 1,330,249 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Conagra Brands by 401.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company’s stock worth $41,663,000 after purchasing an additional 1,216,389 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Up 0.5 %

Shares of Conagra Brands stock opened at $31.27 on Wednesday. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 3.12 and a beta of 0.42. 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, Inc. has a 52-week low of $25.16 and a 52-week high of $38.73. The stock has a 50-day simple moving average of $28.98 and a 200-day simple moving average of $28.61.

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

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective on 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 raised their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Royal Bank of Canada decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 3rd. Citigroup raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.14.

Conagra Brands 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.