Venturi Wealth Management LLC Decreases Stake in Conagra Brands, Inc. (NYSE:CAG)

Venturi Wealth Management LLC reduced its position in Conagra Brands, Inc. (NYSE:CAG) by 52.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,752 shares of the company’s stock after selling 3,086 shares during the period. Venturi Wealth Management LLC’s holdings in Conagra Brands were worth $76,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Empirical Finance LLC increased its stake in Conagra Brands by 2.3% during the third 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 last quarter. Bridgewater Advisors Inc. increased its stake in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after acquiring an additional 376 shares during the last quarter. Grove Bank & Trust increased its stake in Conagra Brands by 65.4% during the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares during the last quarter. CIBC Asset Management Inc increased its stake in Conagra Brands by 0.6% during the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock worth $2,346,000 after acquiring an additional 501 shares during the last quarter. Finally, International Private Wealth Advisors LLC increased its stake in Conagra Brands by 5.2% during the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock worth $295,000 after acquiring an additional 527 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Up 0.1 %

Shares of NYSE:CAG opened at $25.83 on Tuesday. Conagra Brands, Inc. has a 52-week low of $23.06 and a 52-week high of $33.24. The stock has a market cap of $12.33 billion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The business’s 50 day moving average is $26.11 and its 200 day moving average is $28.49. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.15 billion. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Conagra Brands’s revenue was down .4% compared to the same quarter last year. Sell-side analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.42%. Conagra Brands’s dividend payout ratio is currently 137.25%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays reduced their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research note on Monday, December 23rd. Bank of America reduced their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Citigroup cut their target price on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 11th. JPMorgan Chase & Co. cut their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group cut Conagra Brands from a “buy” rating to a “neutral” rating and cut their target price for the company from $33.00 to $26.00 in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $28.67.

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.