Hennion & Walsh Asset Management Inc. Has $1.04 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Hennion & Walsh Asset Management Inc. decreased its holdings in Conagra Brands, Inc. (NYSE:CAG) by 24.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,037 shares of the company’s stock after selling 11,446 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Conagra Brands were worth $1,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Naples Money Management LLC acquired a new position in Conagra Brands in the fourth quarter valued at about $26,000. First United Bank & Trust bought a new stake in shares of Conagra Brands during the 4th quarter worth approximately $26,000. Advantage Trust Co acquired a new stake in shares of Conagra Brands during the 4th quarter worth approximately $34,000. Parkside Financial Bank & Trust increased its stake in Conagra Brands by 48.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after acquiring an additional 454 shares during the last quarter. Finally, Bogart Wealth LLC raised its position in Conagra Brands by 143.3% during the fourth quarter. Bogart Wealth LLC now owns 1,550 shares of the company’s stock valued at $44,000 after purchasing an additional 913 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

CAG has been the subject of a number of research analyst reports. Citigroup lowered their price target on Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday. Barclays upped their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Stifel Nicolaus boosted their target price on shares of Conagra Brands from $29.00 to $32.00 and gave the stock a “hold” rating in a research note on Friday, April 5th. Finally, Wells Fargo & Company increased their price target on Conagra Brands from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Friday, April 5th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average target price of $33.00.

Conagra Brands Stock Down 0.4 %

Conagra Brands stock opened at $28.30 on Tuesday. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 2.76 and a beta of 0.32. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $34.38. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.33 and a current ratio of 0.95. The firm has a 50 day moving average price of $29.93 and a two-hundred day moving average price of $29.25.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, April 4th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the business earned $0.76 earnings per share. Conagra Brands’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts predict that Conagra Brands, Inc. will post 2.62 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend was Monday, April 29th. Conagra Brands’s payout ratio is 70.35%.

Insider Transactions at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $30.37, for a total transaction of $469,034.28. Following the transaction, the executive vice president now owns 113,254 shares in the company, valued at approximately $3,439,523.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.88% of the company’s stock.

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.