Integrated Wealth Concepts LLC Cuts Position in Conagra Brands, Inc. (NYSE:CAG)

Integrated Wealth Concepts LLC decreased its holdings in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 49.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,424 shares of the company's stock after selling 18,344 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Conagra Brands were worth $511,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CAG. Bessemer Group Inc. raised its holdings in Conagra Brands by 0.6% during the fourth quarter. Bessemer Group Inc. now owns 78,038 shares of the company's stock worth $2,166,000 after purchasing an additional 429 shares during the last quarter. Grove Bank & Trust increased its position in shares of 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 buying an additional 447 shares in the last quarter. Summit Financial Wealth Advisors LLC raised 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 worth $1,030,000 after buying an additional 500 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Conagra Brands by 0.6% in the 4th quarter. CIBC Asset Management Inc now owns 84,534 shares of the company's stock worth $2,346,000 after buying an additional 501 shares in the last quarter. Finally, Xponance Inc. grew its stake in Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company's stock valued at $1,823,000 after acquiring an additional 505 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CAG shares. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. Barclays upped their target price on Conagra Brands from $27.00 to $29.00 and gave the company an "overweight" rating in a research note on Monday, April 7th. The Goldman Sachs Group downgraded Conagra Brands from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $33.00 to $26.00 in a research report on Monday, February 24th. JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday. Finally, Morgan Stanley initiated coverage on Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective on the stock. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $27.80.

Conagra Brands Trading Down 0.7 %

CAG traded down $0.17 during midday trading on Tuesday, hitting $23.35. The company's stock had a trading volume of 4,541,934 shares, compared to its average volume of 5,145,215. The firm has a market cap of $11.14 billion, a P/E ratio of 22.89, a PEG ratio of 1.76 and a beta of 0.18. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. 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 has a 50-day moving average price of $25.64 and a two-hundred day moving average price of $26.51.

Conagra Brands (NYSE:CAG - Get Free Report) last released its 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 company had revenue of $2.84 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.00%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's payout ratio is currently 205.88%.

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.