Wedmont Private Capital Acquires New Stake in Conagra Brands $CAG

Wedmont Private Capital acquired a new stake in shares of Conagra Brands (NYSE:CAG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 13,318 shares of the company’s stock, valued at approximately $271,000.

Other hedge funds have also made changes to their positions in the company. Alpine Bank Wealth Management acquired a new position in shares of Conagra Brands during the first quarter valued at approximately $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Conagra Brands during the first quarter valued at approximately $27,000. Capital Advisors Ltd. LLC increased its stake in shares of Conagra Brands by 82.3% during the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company’s stock valued at $27,000 after acquiring an additional 452 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after acquiring an additional 741 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Conagra Brands during the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the subject of a number of research reports. Stifel Nicolaus reduced their target price on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a report on Friday, July 11th. Royal Bank Of Canada reduced their target price on shares of Conagra Brands from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Friday, July 11th. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the stock a “market perform” rating in a report on Friday, July 11th. Morgan Stanley reduced their target price on shares of Conagra Brands from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Friday, July 11th. Finally, Bank of America cut shares of Conagra Brands from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $27.00 to $20.00 in a report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands has an average rating of “Hold” and an average price target of $22.17.

Conagra Brands Trading Down 1.2%

Conagra Brands stock opened at $18.53 on Monday. The company has a 50 day moving average price of $19.10 and a 200 day moving average price of $22.08. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $32.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71. The firm has a market capitalization of $8.87 billion, a price-to-earnings ratio of 7.75, a P/E/G ratio of 1.77 and a beta of 0.07.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The firm had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.88 billion. During the same period in the prior year, the business posted $0.61 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Research analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.6%. Conagra Brands’s dividend payout ratio is 58.58%.

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.