Hennion & Walsh Asset Management Inc. Reduces Position in Conagra Brands, Inc. (NYSE:CAG)

Hennion & Walsh Asset Management Inc. trimmed its holdings in Conagra Brands, Inc. (NYSE:CAG) by 21.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,504 shares of the company’s stock after selling 3,371 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Conagra Brands were worth $347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Courier Capital LLC increased its stake in Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after purchasing an additional 355 shares during the period. CWM LLC grew its holdings in shares of Conagra Brands by 0.4% in the third quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after purchasing an additional 359 shares during the last quarter. Empirical Finance LLC increased its stake in Conagra Brands by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after buying an additional 362 shares during the period. Arkadios Wealth Advisors lifted its holdings in Conagra Brands by 0.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock valued at $1,716,000 after buying an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its position in Conagra Brands by 1.5% in the 3rd quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after buying an additional 376 shares during the period. 83.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CAG shares. Barclays reduced their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company decreased their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. BNP Paribas raised Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Citigroup decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, December 11th. Finally, Bank of America dropped their target price on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, December 20th. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.56.

Conagra Brands Trading Down 0.5 %

Conagra Brands stock opened at $25.70 on Wednesday. The firm has a market cap of $12.27 billion, a PE ratio of 25.19, a P/E/G ratio of 1.75 and a beta of 0.29. Conagra Brands, Inc. has a 12 month low of $25.35 and a 12 month high of $33.24. The stock’s 50 day simple moving average is $27.17 and its two-hundred day simple moving average is $29.22. 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 announced its quarterly earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 earnings per share. Analysts anticipate that Conagra Brands, Inc. will post 2.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Stockholders of record on Monday, January 27th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands’s dividend payout ratio (DPR) is presently 137.26%.

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.