Obermeyer Wealth Partners Takes Position in Conagra Brands, Inc. (NYSE:CAG)

Obermeyer Wealth Partners purchased a new stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,969 shares of the company's stock, valued at approximately $526,000.

A number of other institutional investors and hedge funds have also modified their holdings of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands during the fourth quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of Conagra Brands during the fourth quarter valued at $29,000. Grove Bank & Trust raised its holdings in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company's stock worth $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands during the fourth quarter worth $41,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Conagra Brands during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Barclays cut their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 12th. Stifel Nicolaus cut their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a report on Wednesday, February 19th. The Goldman Sachs Group lowered Conagra Brands from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. 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 objective for the company. Finally, JPMorgan Chase & Co. cut their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating for the company in a report on Tuesday, May 6th. Nine investment 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.50.

Conagra Brands Stock Up 0.9%

NYSE CAG traded up $0.20 during trading on Friday, hitting $22.97. 7,918,247 shares of the company traded hands, compared to its average volume of 5,308,307. Conagra Brands, Inc. has a 12 month low of $22.38 and a 12 month high of $33.24. The business has a fifty day simple moving average of $25.07 and a 200 day simple moving average of $26.15. 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 company has a market capitalization of $10.96 billion, a P/E ratio of 22.51, a PEG ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its 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). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter last year, the business earned $0.69 earnings per share. Conagra Brands's quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 6.10%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio is currently 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.