Wealth Enhancement Advisory Services LLC Increases Stock Position in Conagra Brands, Inc. (NYSE:CAG)

Wealth Enhancement Advisory Services LLC boosted its stake in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 35.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,208 shares of the company's stock after buying an additional 14,809 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Conagra Brands were worth $1,560,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in Conagra Brands in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new stake in Conagra Brands in the 4th quarter valued at about $41,000. Stonebridge Financial Group LLC purchased a new stake in Conagra Brands in the 4th quarter valued at about $44,000. Asset Planning Inc purchased a new stake in Conagra Brands during the fourth quarter worth about $53,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in Conagra Brands during the fourth quarter worth about $53,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.5%

Shares of CAG stock traded up $0.11 during trading hours on Friday, reaching $22.37. 4,738,184 shares of the stock were exchanged, compared to its average volume of 5,456,455. The business's fifty day moving average is $24.05 and its two-hundred day moving average is $25.58. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a 12-month low of $21.98 and a 12-month high of $33.24. The firm has a market capitalization of $10.68 billion, a P/E ratio of 21.93, a P/E/G ratio of 1.76 and a beta of 0.14.

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 (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 analyst estimates of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. As a group, research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.26%. The ex-dividend date was Monday, April 28th. Conagra Brands's dividend payout ratio (DPR) is 205.88%.

Analysts Set New Price Targets

A number of analysts have issued reports on CAG shares. The Goldman Sachs Group lowered shares of Conagra Brands from a "buy" rating to a "neutral" rating and cut their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. 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. Morgan Stanley started coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 price target on the stock. Wells Fargo & Company cut their price target on shares of Conagra Brands from $27.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. cut their price target 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. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $27.10.

Conagra Brands Company 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.