Verdence Capital Advisors LLC Has $355,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Verdence Capital Advisors LLC decreased its stake in Conagra Brands, Inc. (NYSE:CAG) by 28.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,404 shares of the company’s stock after selling 4,954 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Conagra Brands were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co lifted its stake in Conagra Brands by 132.8% in the third quarter. Riverview Trust Co now owns 945 shares of the company’s stock valued at $26,000 after buying an additional 539 shares during the period. Naples Money Management LLC acquired a new stake in shares of Conagra Brands during the fourth quarter worth about $26,000. Thompson Investment Management Inc. raised its position in shares of Conagra Brands by 100.0% during the third quarter. Thompson Investment Management Inc. now owns 1,000 shares of the company’s stock worth $27,000 after purchasing an additional 500 shares during the period. Authentikos Wealth Advisory LLC acquired a new stake in shares of Conagra Brands during the third quarter worth about $33,000. Finally, Ronald Blue Trust Inc. raised its position in shares of Conagra Brands by 134.5% during the third quarter. Ronald Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $41,000 after purchasing an additional 857 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.5 %

CAG stock opened at $31.27 on Wednesday. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $28.98 and a two-hundred day moving average price of $28.61. The company has a market cap of $14.95 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 3.12 and a beta of 0.42. Conagra Brands, Inc. has a twelve month low of $25.16 and a twelve month high of $38.73.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Thursday, April 4th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.01 billion. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. Analysts anticipate that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.40 dividend on an annualized basis and a yield of 4.48%. Conagra Brands’s dividend payout ratio is 70.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Barclays raised their price target on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Citigroup raised their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Wells Fargo & Company raised their price target on Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Friday, April 5th. Stifel Nicolaus raised their price target on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Finally, Royal Bank of Canada dropped their target price on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $33.14.

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.