Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 11.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 25,486 shares of the company’s stock after selling 3,188 shares during the quarter. Wesbanco Bank Inc.’s holdings in Conagra Brands were worth $829,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marshall Wace LLP grew its stake in Conagra Brands by 1,362.6% in the second quarter. Marshall Wace LLP now owns 2,406,743 shares of the company’s stock worth $68,400,000 after purchasing an additional 2,242,186 shares in the last quarter. Federated Hermes Inc. raised its stake in Conagra Brands by 20.5% during the second quarter. Federated Hermes Inc. now owns 11,013,503 shares of the company’s stock valued at $313,004,000 after buying an additional 1,871,238 shares in the last quarter. AMF Tjanstepension AB bought a new position in Conagra Brands during the 1st quarter worth approximately $47,980,000. Squarepoint Ops LLC grew its position in shares of Conagra Brands by 148.2% in the 2nd quarter. Squarepoint Ops LLC now owns 2,535,116 shares of the company’s stock worth $72,048,000 after acquiring an additional 1,513,726 shares in the last quarter. Finally, Miller Howard Investments Inc. NY grew its position in shares of Conagra Brands by 523.8% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 1,446,775 shares of the company’s stock worth $41,117,000 after acquiring an additional 1,214,859 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CAG shares. Wells Fargo & Company dropped their price target on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. BNP Paribas raised shares of Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Thursday, October 3rd. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, July 12th. Finally, Bank of America cut their target price on shares of Conagra Brands from $34.00 to $33.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.63.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total value of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.88% of the company’s stock.

Conagra Brands Stock Performance

Shares of CAG opened at $29.58 on Wednesday. The firm has a market capitalization of $14.14 billion, a PE ratio of 40.52, a P/E/G ratio of 3.01 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 0.94 and a debt-to-equity ratio of 0.86. The firm has a 50-day moving average price of $31.15 and a 200 day moving average price of $30.29. Conagra Brands, Inc. has a 52-week low of $26.62 and a 52-week high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.84 billion. During the same quarter last year, the business earned $0.66 earnings per share. The company’s revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Conagra Brands, Inc. will post 2.59 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, October 31st will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $1.40 annualized dividend and a dividend yield of 4.73%. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

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.