Snowden Capital Advisors LLC Has $772,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Snowden Capital Advisors LLC reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 75.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 27,834 shares of the company's stock after selling 83,319 shares during the period. Snowden Capital Advisors LLC's holdings in Conagra Brands were worth $772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CAG. Bessemer Group Inc. increased its stake in shares of Conagra Brands by 0.6% in the fourth 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 during the period. Grove Bank & Trust boosted its holdings in Conagra Brands by 65.4% in 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 during the last quarter. Summit Financial Wealth Advisors LLC increased its position in 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 purchasing an additional 500 shares during the period. CIBC Asset Management Inc raised its holdings in Conagra Brands by 0.6% during the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock worth $2,346,000 after purchasing an additional 501 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock worth $1,823,000 after purchasing an additional 505 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Up 0.1%

Conagra Brands stock opened at $23.01 on Tuesday. 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 firm's fifty day moving average price is $25.01 and its two-hundred day moving average price is $26.06. The firm has a market capitalization of $10.98 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 1-year low of $22.38 and a 1-year high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. Conagra Brands's revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.69 EPS. On average, equities research analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors 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 6.08%. The ex-dividend date is Monday, April 28th. Conagra Brands's payout ratio is currently 205.88%.

Wall Street Analysts Forecast Growth

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

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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