Wealth Enhancement Advisory Services LLC Has $5.53 Million Stock Position in Conagra Brands (NYSE:CAG)

Wealth Enhancement Advisory Services LLC raised its stake in Conagra Brands (NYSE:CAG - Free Report) by 269.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 207,417 shares of the company's stock after buying an additional 151,209 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Conagra Brands were worth $5,532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CAG. Bessemer Group Inc. raised its position in Conagra Brands by 0.6% in 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 during the last quarter. Capital Advisors Ltd. LLC raised its holdings in shares of Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after purchasing an additional 452 shares during the last quarter. Summit Financial Wealth Advisors LLC lifted its position in shares of Conagra Brands by 1.3% in the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company's stock worth $1,030,000 after purchasing an additional 500 shares in the last quarter. Xponance Inc. lifted its position in shares of Conagra Brands by 0.8% in the fourth quarter. Xponance Inc. now owns 65,680 shares of the company's stock worth $1,823,000 after purchasing an additional 505 shares in the last quarter. Finally, Capstone Triton Financial Group LLC boosted its holdings in Conagra Brands by 1.5% during the fourth 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 during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CAG. The Goldman Sachs Group lowered shares of Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price target for the company from $26.00 to $21.00 in a research note on Monday, June 9th. Morgan Stanley began coverage on Conagra Brands in a report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 price objective for the company. JPMorgan Chase & Co. dropped their target price on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a report on Tuesday, May 6th. Barclays reduced their price target on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Finally, UBS Group began coverage on Conagra Brands in a research report on Monday, June 16th. They set a "neutral" rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $25.36.

Conagra Brands Stock Down 4.7%

CAG stock opened at $20.46 on Thursday. Conagra Brands has a 1-year low of $20.45 and a 1-year high of $33.24. The business's 50 day simple moving average is $22.98 and its 200 day simple moving average is $25.07. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $9.77 billion, a PE ratio of 30.09, a PEG ratio of 1.59 and a beta of 0.14.

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

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Monday, April 28th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.84%. The ex-dividend date was Monday, April 28th. Conagra Brands's payout ratio is 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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