Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Weaver Capital Management LLC

Weaver Capital Management LLC decreased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,124 shares of the company’s stock after selling 1,679 shares during the quarter. Weaver Capital Management LLC’s holdings in Conagra Brands were worth $364,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Conagra Brands in the fourth quarter valued at $28,000. Hexagon Capital Partners LLC lifted its stake in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after purchasing an additional 420 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in shares of Conagra Brands during the third quarter worth about $47,000. Finally, ST Germain D J Co. Inc. lifted its stake in shares of Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after purchasing an additional 529 shares in 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 commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Bank of America reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Wells Fargo & Company dropped their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, January 3rd. Finally, Stifel Nicolaus dropped their target price on Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. Seven 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 company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.33.

Conagra Brands Stock Performance

Shares of NYSE CAG opened at $25.03 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $26.88 and a 200-day simple moving average of $28.99. The company has a market cap of $11.94 billion, a PE ratio of 24.53, a P/E/G ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 12-month low of $24.85 and a 12-month high of $33.24.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.71 earnings per share. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.59%. Conagra Brands’s dividend payout ratio (DPR) is 137.26%.

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.