Integrated Wealth Concepts LLC Cuts Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Integrated Wealth Concepts LLC cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 49.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,424 shares of the company’s stock after selling 18,344 shares during the period. Integrated Wealth Concepts LLC’s holdings in Conagra Brands were worth $511,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. 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 purchased a new stake in shares of Conagra Brands during the 4th quarter worth $29,000. Grove Bank & Trust lifted its position in shares of Conagra Brands by 65.4% during the 4th 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. SBI Securities Co. Ltd. acquired a new position in shares of Conagra Brands during the fourth quarter worth $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in Conagra Brands in the fourth quarter valued at $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAG has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. 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 target on the stock. Finally, Barclays raised their price objective on Conagra Brands from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Monday, April 7th. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.90.

Conagra Brands Stock Down 1.3 %

CAG opened at $23.86 on Friday. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The business has a 50 day moving average price of $25.67 and a two-hundred day moving average price of $26.60. 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 company has a market cap of $11.39 billion, a PE ratio of 23.39, a P/E/G ratio of 1.76 and a beta of 0.27.

Conagra Brands (NYSE:CAG) last issued 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%. Conagra Brands’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 earnings per share. As a group, research analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

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 is Monday, April 28th. This represents a $1.40 annualized dividend and a yield of 5.87%. Conagra Brands’s dividend payout ratio is currently 205.88%.

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.