Telemus Capital LLC Has $913,000 Holdings in Conagra Brands, Inc. (NYSE:CAG)

Telemus Capital LLC lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,857 shares of the company’s stock after selling 5,570 shares during the quarter. Telemus Capital LLC’s holdings in Conagra Brands were worth $913,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CAG. Invesco Ltd. raised its stake in Conagra Brands by 37.1% during the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after buying an additional 2,619,372 shares during the period. American Century Companies Inc. raised its stake in shares of Conagra Brands by 14.0% in the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock valued at $388,580,000 after purchasing an additional 1,737,380 shares during the period. Barclays PLC raised its stake in shares of Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock valued at $102,792,000 after purchasing an additional 1,614,986 shares during the period. Federated Hermes Inc. raised its stake in shares of Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock valued at $241,517,000 after purchasing an additional 1,330,249 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Conagra Brands by 401.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company’s stock valued at $41,663,000 after purchasing an additional 1,216,389 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

CAG traded up $0.27 during trading on Monday, hitting $30.89. 861,874 shares of the stock traded hands, compared to its average volume of 5,050,904. The business has a 50 day moving average price of $28.83 and a 200 day moving average price of $28.54. The company has a market cap of $14.77 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 3.07 and a beta of 0.41. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month 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 issued its quarterly earnings data on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Conagra Brands’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities research analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm 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. The ex-dividend date is Monday, April 29th. This represents a $1.40 annualized dividend and a dividend yield of 4.53%. Conagra Brands’s dividend payout ratio is 70.35%.

Analyst Ratings Changes

Several analysts have issued reports on CAG shares. Barclays lifted their price target on Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a report on Friday, April 5th. Citigroup raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, April 5th. Royal Bank of Canada reduced their price target on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company lifted their price target on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a 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 company. According to data from MarketBeat.com, Conagra Brands currently 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.