Stifel Financial Corp Reduces Holdings in Conagra Brands, Inc. (NYSE:CAG)

Stifel Financial Corp trimmed its position in Conagra Brands, Inc. (NYSE:CAG - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 579,488 shares of the company's stock after selling 34,602 shares during the quarter. Stifel Financial Corp owned about 0.12% of Conagra Brands worth $16,081,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $28,000. Riverview Trust Co acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $29,000. Grove Bank & Trust grew 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 purchasing an additional 447 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in Conagra Brands in the fourth quarter valued at approximately $44,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Down 2.2 %

CAG stock traded down $0.53 during midday trading on Thursday, reaching $24.18. 4,363,610 shares of the company were exchanged, compared to its average volume of 6,086,636. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The stock's 50-day simple moving average is $25.75 and its 200 day simple moving average is $26.68. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, April 3rd. The company reported $0.51 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 was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 earnings per share. On average, equities analysts forecast that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Monday, April 28th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.79%. Conagra Brands's dividend payout ratio is currently 205.88%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CAG. Stifel Nicolaus dropped their price objective on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a report on Wednesday, February 19th. The Goldman Sachs Group cut 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. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 18th. Morgan Stanley assumed coverage on shares of Conagra Brands in a research report on Monday, March 24th. They issued an "equal weight" rating and a $27.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Conagra Brands from $29.00 to $26.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has an average rating of "Hold" and an average price target of $27.90.

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.