Stifel Financial Corp Sells 34,602 Shares of Conagra Brands, Inc. (NYSE:CAG)

Stifel Financial Corp lessened its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 579,488 shares of the company’s stock after selling 34,602 shares during the period. Stifel Financial Corp owned 0.12% of Conagra Brands worth $16,081,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Conagra Brands during the 4th quarter valued at $28,000. Riverview Trust Co purchased a new stake in Conagra Brands during the 4th quarter valued at approximately $29,000. Grove Bank & Trust raised its position 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 buying an additional 447 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands in the fourth quarter worth $41,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of Conagra Brands during the fourth quarter worth $44,000. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. The Goldman Sachs Group downgraded shares of Conagra Brands from a “buy” rating to a “neutral” rating and reduced their price target for the company from $33.00 to $26.00 in a report on Monday, February 24th. Barclays boosted their target price on Conagra Brands from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Monday, April 7th. Wells Fargo & Company dropped their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, Morgan Stanley assumed coverage on shares of Conagra Brands in a report on Monday, March 24th. They issued an “equal weight” rating and a $27.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.90.

Conagra Brands Stock Down 1.9 %

Shares of NYSE:CAG opened at $24.44 on Friday. The firm has a market capitalization of $11.67 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 1 year low of $23.06 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The business has a 50 day simple moving average of $25.79 and a two-hundred day simple moving average of $26.77.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be issued a $0.35 dividend. The ex-dividend date is Monday, April 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.73%. Conagra Brands’s dividend payout ratio is presently 205.88%.

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.