Venturi Wealth Management LLC Raises Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Venturi Wealth Management LLC increased its position in shares of Conagra Brands, Inc. (NYSE:CAG) by 30.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,838 shares of the company’s stock after acquiring an additional 1,366 shares during the quarter. Venturi Wealth Management LLC’s holdings in Conagra Brands were worth $190,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CAG. Bessemer Group Inc. boosted its position in shares of Conagra Brands by 237.9% in the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock worth $2,281,000 after acquiring an additional 54,195 shares during the last quarter. M&G Plc purchased a new stake in shares of Conagra Brands during the 1st quarter valued at about $7,429,000. UniSuper Management Pty Ltd lifted its position in Conagra Brands by 573.4% during the 1st quarter. UniSuper Management Pty Ltd now owns 38,046 shares of the company’s stock worth $1,128,000 after acquiring an additional 32,396 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Conagra Brands in the 3rd quarter worth approximately $3,829,000. Finally, Swedbank AB acquired a new stake in Conagra Brands in the first quarter valued at approximately $18,268,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.1 %

NYSE:CAG opened at $27.64 on Thursday. Conagra Brands, Inc. has a 52 week low of $26.62 and a 52 week high of $33.24. The firm has a market capitalization of $13.19 billion, a PE ratio of 26.83, a price-to-earnings-growth ratio of 2.85 and a beta of 0.34. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average of $30.42 and a 200-day moving average of $30.09.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.84 billion. Conagra Brands had a return on equity of 13.71% and a net margin of 4.14%. The firm’s revenue was down 3.8% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. Analysts predict that Conagra Brands, Inc. will post 2.59 EPS for the current year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio (DPR) is 135.92%.

Wall Street Analyst Weigh In

CAG has been the subject of several analyst reports. The Goldman Sachs Group started coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 target price for the company. Bank of America lowered their target price on Conagra Brands from $34.00 to $33.00 and set a “neutral” rating for the company in a research note on Thursday, October 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Thursday, October 3rd. BNP Paribas upgraded Conagra Brands to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Six 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $31.63.

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.