Wesbanco Bank Inc. Sells 2,040 Shares of Conagra Brands, Inc. (NYSE:CAG)

Wesbanco Bank Inc. lessened its stake in Conagra Brands, Inc. (NYSE:CAG) by 8.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,377 shares of the company’s stock after selling 2,040 shares during the quarter. Wesbanco Bank Inc.’s holdings in Conagra Brands were worth $570,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Riverview Trust Co purchased a new stake in Conagra Brands in the 4th quarter worth $29,000. SBI Securities Co. Ltd. purchased a new stake in shares of Conagra Brands in the fourth quarter worth about $41,000. AdvisorNet Financial Inc boosted its stake in Conagra Brands by 86.1% during the first quarter. AdvisorNet Financial Inc now owns 1,491 shares of the company’s stock valued at $40,000 after buying an additional 690 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Conagra Brands during the 4th quarter valued at approximately $44,000. Finally, Asset Planning Inc bought a new stake in Conagra Brands in the 4th quarter worth approximately $53,000. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on CAG shares. Barclays decreased their target price on shares of Conagra Brands from $29.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their price objective on Conagra Brands from $26.00 to $25.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on Conagra Brands from $27.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, June 2nd. 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 report on Wednesday, February 19th. Finally, Morgan Stanley assumed coverage on Conagra Brands in a report on Monday, March 24th. They set an “equal weight” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus target price of $26.60.

Conagra Brands Price Performance

CAG opened at $22.40 on Wednesday. The business has a fifty day moving average of $23.88 and a 200 day moving average of $25.50. The stock has a market cap of $10.69 billion, a P/E ratio of 21.96, a PEG ratio of 1.76 and a beta of 0.14. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a 52-week low of $21.98 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Monday, April 28th were issued a $0.35 dividend. The ex-dividend date of this dividend was Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 6.25%. Conagra Brands’s payout ratio is 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.