Envestnet Portfolio Solutions Inc. Sells 24,727 Shares of Conagra Brands (NYSE:CAG)

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 53.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,812 shares of the company's stock after selling 24,727 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Conagra Brands were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Bessemer Group Inc. lifted its stake in shares of Conagra Brands by 0.6% during the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock valued at $2,166,000 after buying an additional 429 shares in the last quarter. Capital Advisors Ltd. LLC lifted its stake in shares of Conagra Brands by 82.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after buying an additional 452 shares in the last quarter. Summit Financial Wealth Advisors LLC lifted its stake in shares of Conagra Brands by 1.3% during the 4th quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock valued at $1,030,000 after buying an additional 500 shares in the last quarter. Xponance Inc. lifted its stake in shares of Conagra Brands by 0.8% during the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after buying an additional 505 shares in the last quarter. Finally, Capstone Triton Financial Group LLC lifted its stake in Conagra Brands by 1.5% in the 4th quarter. Capstone Triton Financial Group LLC now owns 35,860 shares of the company's stock worth $995,000 after purchasing an additional 535 shares in the last quarter. Institutional investors own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

CAG has been the topic of several recent research reports. Wells Fargo & Company decreased their target price on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Monday, June 2nd. The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and decreased their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. UBS Group initiated coverage on shares of Conagra Brands in a research report on Monday, June 16th. They set a "neutral" rating and a $22.00 target price on the stock. Bank of America cut shares of Conagra Brands from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. Finally, Barclays decreased their target price on shares of Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $25.36.

Conagra Brands Stock Up 0.2%

Shares of NYSE:CAG opened at $20.49 on Friday. Conagra Brands has a 1-year low of $20.40 and a 1-year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.69 and a quick ratio of 0.23. The stock has a market cap of $9.78 billion, a P/E ratio of 30.14, a P/E/G ratio of 1.52 and a beta of 0.14. The firm has a fifty day moving average price of $22.89 and a 200 day moving average price of $25.02.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). Conagra Brands had a return on equity of 12.94% and a net margin of 2.80%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter last year, the firm earned $0.69 earnings per share. The company's revenue was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.83%. The ex-dividend date of this dividend was Monday, April 28th. Conagra Brands's dividend payout ratio is presently 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.

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