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

Wesbanco Bank Inc. cut its stake in Conagra Brands, Inc. (NYSE:CAG) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,417 shares of the company’s stock after selling 2,069 shares during the period. Wesbanco Bank Inc.’s holdings in Conagra Brands were worth $650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Courier Capital LLC raised its holdings in shares of Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after buying an additional 355 shares during the last quarter. CWM LLC raised its stake in Conagra Brands by 0.4% in the 3rd quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after acquiring an additional 359 shares during the last quarter. Empirical Finance LLC lifted its position in Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after acquiring an additional 362 shares during the period. Arkadios Wealth Advisors grew its stake in Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after purchasing an additional 376 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its holdings in shares of Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after purchasing an additional 376 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a report on Thursday, October 3rd. Citigroup dropped their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 target price on shares of Conagra Brands in a report on Friday, December 20th. Bank of America decreased 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. Finally, Barclays cut their price target on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Conagra Brands currently has an average rating of “Hold” and a consensus target price of $30.56.

Conagra Brands Trading Up 0.2 %

Shares of Conagra Brands stock opened at $25.35 on Friday. Conagra Brands, Inc. has a fifty-two week low of $25.06 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The company has a market cap of $12.10 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.29. The firm has a 50-day simple moving average of $27.08 and a two-hundred day simple moving average of $29.17.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. As a group, equities analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.52%. Conagra Brands’s dividend payout ratio (DPR) is currently 137.26%.

About Conagra Brands

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.