Stifel Financial Corp Cuts Stake in Conagra Brands, Inc. (NYSE:CAG)

Stifel Financial Corp lessened its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 579,488 shares of the company’s stock after selling 34,602 shares during the quarter. Stifel Financial Corp’s holdings in Conagra Brands were worth $16,081,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CAG. Bessemer Group Inc. raised its stake in Conagra Brands by 0.6% in the 4th quarter. Bessemer Group Inc. now owns 78,038 shares of the company’s stock worth $2,166,000 after acquiring an additional 429 shares during the last quarter. Grove Bank & Trust raised its stake in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the last quarter. Summit Financial Wealth Advisors LLC lifted its holdings in shares of Conagra Brands by 1.3% during the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock worth $1,030,000 after purchasing an additional 500 shares during the period. CIBC Asset Management Inc boosted its position in Conagra Brands by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock valued at $2,346,000 after buying an additional 501 shares during the last quarter. Finally, Xponance Inc. increased its holdings in Conagra Brands by 0.8% in the 4th quarter. Xponance Inc. now owns 65,680 shares of the company’s stock worth $1,823,000 after buying an additional 505 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $24.44 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. The firm has a market cap of $11.67 billion, a PE ratio of 23.96, a P/E/G ratio of 1.76 and a beta of 0.27. The business has a 50-day moving average price of $25.79 and a 200 day moving average price of $26.77. Conagra Brands, Inc. has a twelve month low of $23.06 and a twelve month high of $33.24.

Conagra Brands (NYSE:CAG) last released its quarterly 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). The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. Sell-side analysts predict that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal 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 paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.73%. The ex-dividend date is Monday, April 28th. Conagra Brands’s dividend payout ratio is currently 205.88%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CAG shares. Morgan Stanley initiated coverage on shares of Conagra Brands in a research note on Monday, March 24th. They set an “equal weight” rating and a $27.00 price objective for the company. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. Barclays lifted their price objective on Conagra Brands from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Monday, April 7th. JPMorgan Chase & Co. lowered their target price on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $26.00 in a research report on Monday, February 24th. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus 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.