Verdence Capital Advisors LLC reduced its position in shares of Conagra Brands, Inc. (NYSE:CAG – Free Report) by 28.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,404 shares of the company’s stock after selling 4,954 shares during the period. Verdence Capital Advisors LLC’s holdings in Conagra Brands were worth $355,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of CAG. Invesco Ltd. increased its stake in Conagra Brands by 37.1% in the 3rd quarter. Invesco Ltd. now owns 9,675,187 shares of the company’s stock worth $265,294,000 after purchasing an additional 2,619,372 shares in the last quarter. American Century Companies Inc. increased its stake in Conagra Brands by 14.0% in the 3rd quarter. American Century Companies Inc. now owns 14,171,413 shares of the company’s stock worth $388,580,000 after purchasing an additional 1,737,380 shares in the last quarter. Barclays PLC increased its stake in Conagra Brands by 75.7% in the 3rd quarter. Barclays PLC now owns 3,748,848 shares of the company’s stock worth $102,792,000 after purchasing an additional 1,614,986 shares in the last quarter. Federated Hermes Inc. increased its stake in Conagra Brands by 18.7% in the 4th quarter. Federated Hermes Inc. now owns 8,426,955 shares of the company’s stock worth $241,517,000 after purchasing an additional 1,330,249 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in Conagra Brands by 401.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,519,450 shares of the company’s stock worth $41,663,000 after purchasing an additional 1,216,389 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.
Conagra Brands Stock Up 0.5 %
Shares of Conagra Brands stock opened at $31.27 on Wednesday. The firm 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. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $38.73. The stock has a 50-day simple moving average of $28.98 and a 200-day simple moving average of $28.61.
Conagra Brands Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Tuesday, April 30th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend is Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the company. Wells Fargo & Company raised their price objective 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. Barclays raised their price objective on Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Royal Bank of Canada decreased their price objective on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 3rd. Citigroup raised their price objective on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research report on Friday, April 5th. Finally, Stifel Nicolaus raised their price objective on Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research report on Friday, April 5th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $33.14.
View Our Latest Stock Report on CAG
Conagra Brands 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.
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