Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Philip James Wealth Mangement LLC

Philip James Wealth Mangement LLC cut its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,759 shares of the company’s stock after selling 1,040 shares during the period. Philip James Wealth Mangement LLC’s holdings in Conagra Brands were worth $382,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAG. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Conagra Brands during the fourth quarter valued at about $28,000. Grove Bank & Trust boosted its stake in shares of Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares during the period. Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands in the fourth quarter valued at approximately $44,000. Abich Financial Wealth Management LLC purchased a new position in shares of Conagra Brands in the third quarter valued at approximately $47,000. Finally, Asset Planning Inc purchased a new position in shares of Conagra Brands in the fourth quarter valued at approximately $53,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAG has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, January 3rd. Bank of America lowered their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada reissued a “sector perform” rating and issued a $29.00 price objective on shares of Conagra Brands in a research note on Friday, December 20th. Citigroup lowered their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company decreased their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and an average price target of $30.33.

Conagra Brands Stock Up 1.3 %

Shares of NYSE:CAG opened at $25.31 on Monday. The company has a market capitalization of $12.08 billion, a PE ratio of 24.81, a P/E/G ratio of 1.70 and a beta of 0.28. 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, Inc. has a twelve month low of $24.18 and a twelve month high of $33.24. The firm has a 50 day simple moving average of $26.46 and a 200-day simple moving average of $28.71.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $3.20 billion during 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 company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. On average, equities analysts predict that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal 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 issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.53%. Conagra Brands’s payout ratio is 137.26%.

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.