Vontobel Holding Ltd. Trims Holdings in Conagra Brands, Inc. (NYSE:CAG)

Vontobel Holding Ltd. decreased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 30.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,038 shares of the company’s stock after selling 14,437 shares during the quarter. Vontobel Holding Ltd.’s holdings in Conagra Brands were worth $917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Conagra Brands in the 4th quarter valued at $28,000. Grove Bank & Trust raised its position in Conagra Brands by 65.4% in the 4th 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 stake in Conagra Brands in the 3rd quarter valued at $47,000. Stonebridge Financial Group LLC purchased a new stake in Conagra Brands in the 4th quarter valued at $44,000. Finally, Kennebec Savings Bank purchased a new stake in Conagra Brands in the 3rd quarter valued at $59,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday. Barclays cut their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Bank of America cut their price objective 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, Royal Bank of Canada restated a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a research report on Friday, December 20th. Seven equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.00.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $23.92 on Wednesday. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 1.70 and a beta of 0.28. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The company’s 50-day moving average price is $26.33 and its 200 day moving average price is $28.62. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 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 analysts’ expectations of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 EPS. As a group, research analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.85%. Conagra Brands’s payout ratio is 137.25%.

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.