Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management decreased its position in Conagra Brands, Inc. (NYSE:CAG) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 142,808 shares of the company’s stock after selling 1,828 shares during the period. Meritage Portfolio Management’s holdings in Conagra Brands were worth $4,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Community Bank N.A. grew its position in shares of Conagra Brands by 5.5% in the fourth quarter. Community Bank N.A. now owns 46,480 shares of the company’s stock valued at $1,332,000 after purchasing an additional 2,410 shares during the last quarter. Schnieders Capital Management LLC boosted its stake in shares of Conagra Brands by 71.4% during the fourth quarter. Schnieders Capital Management LLC now owns 12,900 shares of the company’s stock valued at $370,000 after acquiring an additional 5,375 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Conagra Brands during the 4th quarter worth about $191,000. Parkside Financial Bank & Trust lifted its holdings in Conagra Brands by 48.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after purchasing an additional 454 shares in the last quarter. Finally, OLD National Bancorp IN boosted its stake in shares of Conagra Brands by 10.5% during the 4th quarter. OLD National Bancorp IN now owns 240,895 shares of the company’s stock worth $6,904,000 after purchasing an additional 22,902 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup increased their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Barclays boosted their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus raised their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Wells Fargo & Company upped their price objective on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Finally, Royal Bank of Canada cut their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 3rd. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and an average target price of $33.14.

Conagra Brands Stock Down 1.0 %

Shares of CAG traded down $0.30 during midday trading on Thursday, hitting $31.27. The stock had a trading volume of 4,276,619 shares, compared to its average volume of 5,110,162. The company has a 50 day simple moving average of $29.07 and a two-hundred day simple moving average of $28.63. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $38.73. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. The firm has a market cap of $14.95 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 3.14 and a beta of 0.42.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.76 earnings per share. On average, analysts anticipate that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s dividend payout ratio is currently 70.35%.

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.