Wealth Alliance Sells 755 Shares of Conagra Brands, Inc. (NYSE:CAG)

Wealth Alliance lowered its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,834 shares of the company’s stock after selling 755 shares during the period. Wealth Alliance’s holdings in Conagra Brands were worth $384,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Conagra Brands during the 4th quarter valued at $28,000. Grove Bank & Trust grew its holdings in shares of Conagra Brands by 65.4% during the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands during the 3rd quarter valued at $47,000. Stonebridge Financial Group LLC bought a new stake in Conagra Brands in the 4th quarter worth $44,000. Finally, Kennebec Savings Bank purchased a new position in shares of Conagra Brands in the third quarter valued at about $59,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 3.9 %

NYSE:CAG opened at $25.82 on Friday. The company’s 50-day simple moving average is $26.15 and its 200 day simple moving average is $28.54. The firm has a market capitalization of $12.32 billion, a P/E ratio of 25.31, a PEG ratio of 1.72 and a beta of 0.28. Conagra Brands, Inc. has a one year low of $23.06 and a one year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22.

Conagra Brands (NYSE:CAG) last issued its earnings results 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 firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. As a group, analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a dividend yield of 5.42%. Conagra Brands’s payout ratio is 137.26%.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Stifel Nicolaus cut their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday. Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. JPMorgan Chase & Co. cut their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, Barclays cut their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $29.78.

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.