WBI Investments LLC Cuts Position in Conagra Brands, Inc. (NYSE:CAG)

WBI Investments LLC lowered its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 15.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,716 shares of the company’s stock after selling 18,672 shares during the quarter. WBI Investments LLC’s holdings in Conagra Brands were worth $2,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $28,000. Wedge Capital Management L L P NC boosted its holdings in Conagra Brands by 10.5% in the fourth quarter. Wedge Capital Management L L P NC now owns 130,098 shares of the company’s stock worth $3,610,000 after acquiring an additional 12,363 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Conagra Brands during the fourth quarter worth about $275,000. Arkadios Wealth Advisors grew its stake in shares of Conagra Brands by 1.1% during the fourth quarter. Arkadios Wealth Advisors now owns 53,369 shares of the company’s stock worth $1,481,000 after acquiring an additional 600 shares during the last quarter. Finally, Grove Bank & Trust increased its holdings 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 valued at $31,000 after acquiring an additional 447 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CAG shares. Barclays cut their price target on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. cut their target price on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley started coverage on Conagra Brands in a research report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target for the company. The Goldman Sachs Group downgraded Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the company from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Wells Fargo & Company reduced their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.50.

Conagra Brands Trading Up 0.9%

Shares of NYSE:CAG opened at $22.97 on Monday. 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 business has a 50 day moving average of $25.07 and a two-hundred day moving average of $26.10. Conagra Brands, Inc. has a 12-month low of $22.38 and a 12-month high of $33.24. The company has a market capitalization of $10.96 billion, a PE ratio of 22.51, a PEG ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 earnings per share. As a group, analysts forecast that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.10%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands’s dividend payout ratio is currently 205.88%.

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.