Conagra Brands, Inc. (NYSE:CAG) Shares Bought by Venturi Wealth Management LLC

Venturi Wealth Management LLC increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 30.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,838 shares of the company’s stock after acquiring an additional 1,366 shares during the quarter. Venturi Wealth Management LLC’s holdings in Conagra Brands were worth $190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CAG. Kennebec Savings Bank acquired a new stake in shares of Conagra Brands in the third quarter valued at approximately $59,000. XML Financial LLC purchased a new stake in Conagra Brands in the 3rd quarter valued at $224,000. Bridges Investment Management Inc. raised its position in Conagra Brands by 7.0% in the 3rd quarter. Bridges Investment Management Inc. now owns 22,058 shares of the company’s stock valued at $717,000 after purchasing an additional 1,448 shares during the last quarter. Holistic Planning LLC acquired a new stake in Conagra Brands during the 3rd quarter worth $229,000. Finally, CWA Asset Management Group LLC purchased a new position in Conagra Brands during the 3rd quarter worth $202,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.1 %

Conagra Brands stock opened at $27.64 on Thursday. The stock’s 50 day moving average price is $30.42 and its 200 day moving average price is $30.09. The company has a market cap of $13.19 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.34. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1-year low of $26.62 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.84 billion. During the same period last year, the company earned $0.66 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 5.07%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Analyst Ratings Changes

CAG has been the subject of a number of research reports. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Thursday, October 3rd. The Goldman Sachs Group started coverage on Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price on the stock. Wells Fargo & Company upped their price target on Conagra Brands from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Bank of America lowered their price objective on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.63.

About Conagra Brands

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.