Bartlett & CO. Wealth Management LLC decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG – Free Report) by 28.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,800 shares of the company’s stock after selling 700 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Conagra Brands were worth $50,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of CAG. SG Americas Securities LLC grew its position in Conagra Brands by 171.0% during the 4th quarter. SG Americas Securities LLC now owns 15,640 shares of the company’s stock worth $434,000 after purchasing an additional 9,868 shares during the last quarter. Dakota Wealth Management lifted its stake in shares of Conagra Brands by 354.8% during the fourth quarter. Dakota Wealth Management now owns 38,045 shares of the company’s stock worth $1,056,000 after buying an additional 29,679 shares during the period. Red Spruce Capital LLC grew its holdings in shares of Conagra Brands by 7.8% during the fourth quarter. Red Spruce Capital LLC now owns 57,366 shares of the company’s stock valued at $1,592,000 after buying an additional 4,136 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in shares of Conagra Brands by 106.0% in the 4th quarter. Crossmark Global Holdings Inc. now owns 73,678 shares of the company’s stock valued at $2,045,000 after acquiring an additional 37,910 shares during the period. Finally, Bridgewater Advisors Inc. raised its stake in Conagra Brands by 15.9% in the 4th quarter. Bridgewater Advisors Inc. now owns 29,226 shares of the company’s stock worth $761,000 after acquiring an additional 4,002 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Citigroup cut their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Barclays dropped their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. JPMorgan Chase & Co. reduced their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Finally, Bank of America lowered their price target on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.33.
Conagra Brands Stock Up 1.6 %
Shares of CAG opened at $25.75 on Friday. The stock has a 50 day moving average price of $27.06 and a 200 day moving average price of $29.15. Conagra Brands, Inc. has a one year low of $25.06 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 1.72 and a beta of 0.29.
Conagra Brands (NYSE:CAG – Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period last year, the firm posted $0.71 earnings per share. The company’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.
Conagra Brands Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s payout ratio is currently 137.26%.
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.
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