Wedmont Private Capital Purchases New Position in Conagra Brands, Inc. (NYSE:CAG)

Wedmont Private Capital acquired a new position in shares of Conagra Brands, Inc. (NYSE:CAG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 27,049 shares of the company’s stock, valued at approximately $702,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC grew its stake in Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares during the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of Conagra Brands in the third quarter valued at approximately $47,000. ST Germain D J Co. Inc. grew its position in shares of Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after acquiring an additional 529 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Conagra Brands in the 3rd quarter valued at $59,000. Finally, Quarry LP raised its position in Conagra Brands by 229.7% in the 3rd quarter. Quarry LP now owns 1,820 shares of the company’s stock valued at $59,000 after purchasing an additional 1,268 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.8 %

CAG opened at $26.06 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.94 and a quick ratio of 0.33. Conagra Brands, Inc. has a 12 month low of $25.85 and a 12 month high of $33.24. The stock has a market capitalization of $12.44 billion, a P/E ratio of 25.30, a P/E/G ratio of 2.91 and a beta of 0.29. The business has a 50 day simple moving average of $27.48 and a 200-day simple moving average of $29.32.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company earned $0.71 earnings per share. Conagra Brands’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Conagra Brands, Inc. will post 2.58 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.37%. Conagra Brands’s payout ratio is currently 137.25%.

Wall Street Analyst Weigh In

CAG has been the topic of several research reports. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Barclays lowered their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, December 23rd. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, Citigroup dropped their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $30.56.

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.