Laird Norton Wetherby Wealth Management LLC Has $348,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Laird Norton Wetherby Wealth Management LLC trimmed its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 9.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,542 shares of the company’s stock after selling 1,360 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Conagra Brands were worth $348,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands during the fourth quarter worth about $28,000. Riverview Trust Co acquired a new stake in Conagra Brands during the fourth quarter worth about $29,000. Grove Bank & Trust grew its stake in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after buying an additional 447 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $41,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Conagra Brands in the 4th quarter valued at approximately $44,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 0.9%

NYSE:CAG opened at $22.97 on Friday. The firm’s 50 day simple moving average is $25.07 and its 200 day simple moving average is $26.15. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. Conagra Brands, Inc. has a one year low of $22.38 and a one year high of $33.24. The company has a market cap of $10.96 billion, a PE ratio of 22.51, a P/E/G ratio of 1.76 and a beta of 0.18.

Conagra Brands (NYSE:CAG) last posted its earnings results on Thursday, April 3rd. The company reported $0.51 EPS 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 business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. On average, research analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders 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 6.10%. Conagra Brands’s payout ratio is 205.88%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CAG. Wells Fargo & Company reduced 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 research note on Tuesday, February 18th. Stifel Nicolaus reduced their price target on shares of Conagra Brands from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. The Goldman Sachs Group downgraded shares of 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 note on Monday, February 24th. Morgan Stanley began coverage on shares of Conagra Brands in a research note on Monday, March 24th. They issued an “equal weight” rating and a $27.00 price target on the stock. Finally, Barclays reduced their price target on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $27.50.

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.