Kestra Private Wealth Services LLC Decreases Position in Conagra Brands, Inc. (NYSE:CAG)

Kestra Private Wealth Services LLC cut its position in Conagra Brands, Inc. (NYSE:CAG) by 6.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 32,292 shares of the company’s stock after selling 2,133 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Conagra Brands were worth $896,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands during the fourth quarter valued at approximately $28,000. Grove Bank & Trust raised its holdings in shares of Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands during the third quarter valued at approximately $47,000. ST Germain D J Co. Inc. raised its holdings in shares of Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $55,000 after purchasing an additional 529 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new position in shares of Conagra Brands during the third quarter valued at approximately $59,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CAG shares. Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. JPMorgan Chase & Co. decreased their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, January 3rd. Bank of America cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, December 20th. Citigroup cut their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, December 11th. Finally, Stifel Nicolaus cut their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Stock Performance

CAG opened at $25.00 on Friday. The firm has a market cap of $11.93 billion, a P/E ratio of 24.51, a PEG ratio of 1.70 and a beta of 0.28. Conagra Brands, Inc. has a 1-year low of $24.18 and a 1-year high of $33.24. The company has a 50 day simple moving average of $26.50 and a two-hundred day simple moving average of $28.76. 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 (NYSE:CAG) last posted its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.71 earnings per share. Equities analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be given a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.60%. Conagra Brands’s payout ratio is currently 137.25%.

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.