Conagra Brands (NYSE:CAG) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC reduced its stake in Conagra Brands (NYSE:CAG - Free Report) by 6.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 259,959 shares of the company's stock after selling 17,599 shares during the period. Wealthfront Advisers LLC owned approximately 0.05% of Conagra Brands worth $6,933,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. raised its stake in Conagra Brands by 34.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,590 shares of the company's stock valued at $69,000 after buying an additional 668 shares in the last quarter. CWM LLC raised its stake in Conagra Brands by 2.7% in the first quarter. CWM LLC now owns 89,749 shares of the company's stock valued at $2,394,000 after buying an additional 2,366 shares in the last quarter. Ballentine Partners LLC raised its stake in Conagra Brands by 57.6% in the first quarter. Ballentine Partners LLC now owns 26,649 shares of the company's stock valued at $711,000 after buying an additional 9,736 shares in the last quarter. Xponance Inc. raised its stake in Conagra Brands by 2.1% in the first quarter. Xponance Inc. now owns 67,039 shares of the company's stock valued at $1,788,000 after buying an additional 1,359 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in Conagra Brands by 12.6% in the first quarter. Cerity Partners LLC now owns 461,740 shares of the company's stock valued at $12,315,000 after buying an additional 51,511 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. Evercore ISI cut their price target on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research note on Friday, July 11th. UBS Group cut their price target on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Barclays cut their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Wells Fargo & Company cut their price target on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 9th. Finally, Morgan Stanley dropped their price objective on Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of "Hold" and a consensus price target of $22.58.

Conagra Brands Stock Performance

Conagra Brands stock traded up $0.09 during mid-day trading on Friday, reaching $19.06. 9,686,898 shares of the company were exchanged, compared to its average volume of 7,154,063. The firm's 50-day simple moving average is $21.62 and its two-hundred day simple moving average is $24.24. Conagra Brands has a twelve month low of $18.80 and a twelve month high of $33.24. The firm has a market cap of $9.10 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 1.82 and a beta of 0.11. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion for the quarter, compared to analysts' expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. Equities analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $1.40 annualized dividend and a dividend yield of 7.35%. Conagra Brands's dividend payout ratio is currently 58.58%.

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.