Obermeyer Wealth Partners Purchases Shares of 18,969 Conagra Brands, Inc. (NYSE:CAG)

Obermeyer Wealth Partners bought a new stake in Conagra Brands, Inc. (NYSE:CAG) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 18,969 shares of the company’s stock, valued at approximately $526,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CAG. Bessemer Group Inc. grew its stake in shares of 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 buying an additional 429 shares in the last quarter. Grove Bank & Trust grew its position in 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 acquiring an additional 447 shares in the last quarter. Summit Financial Wealth Advisors LLC grew its position in Conagra Brands by 1.3% in the fourth quarter. Summit Financial Wealth Advisors LLC now owns 40,455 shares of the company’s stock worth $1,030,000 after acquiring an additional 500 shares in the last quarter. CIBC Asset Management Inc grew 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 worth $2,346,000 after acquiring an additional 501 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in shares of 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 purchasing an additional 505 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CAG has been the subject of a number of recent research reports. Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price for the company. Wells Fargo & Company dropped their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. dropped their price target on shares of Conagra Brands from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, May 6th. The Goldman Sachs Group cut shares of Conagra Brands from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $33.00 to $26.00 in a research note on Monday, February 24th. Finally, Stifel Nicolaus dropped their target price on Conagra Brands from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. Nine investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $27.50.

Conagra Brands Stock Down 2.2%

Shares of NYSE CAG opened at $22.80 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market capitalization of $10.88 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 1.76 and a beta of 0.18. The stock has a 50 day moving average price of $25.33 and a 200 day moving average price of $26.27. Conagra Brands, Inc. has a 52-week low of $22.63 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last issued its 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). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.92 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. Conagra Brands’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

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 given a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 annualized dividend and a dividend yield of 6.14%. Conagra Brands’s payout ratio is presently 205.88%.

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.