Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,674 shares of the company’s stock after selling 359 shares during the period. Wesbanco Bank Inc.’s holdings in Conagra Brands were worth $815,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its holdings in Conagra Brands by 7.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 5,220 shares of the company’s stock valued at $155,000 after buying an additional 373 shares in the last quarter. Czech National Bank raised its holdings in Conagra Brands by 0.5% in the 1st quarter. Czech National Bank now owns 84,105 shares of the company’s stock worth $2,493,000 after purchasing an additional 392 shares during the period. Kingsview Wealth Management LLC grew its holdings in Conagra Brands by 5.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,894 shares of the company’s stock valued at $226,000 after purchasing an additional 403 shares during the period. Summit Financial Wealth Advisors LLC raised its stake in shares of Conagra Brands by 1.1% during the 1st quarter. Summit Financial Wealth Advisors LLC now owns 39,955 shares of the company’s stock worth $1,184,000 after buying an additional 430 shares during the period. Finally, Avantax Advisory Services Inc. grew its stake in Conagra Brands by 4.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,265 shares of the company’s stock valued at $334,000 after acquiring an additional 445 shares during the period. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Conagra Brands news, EVP Charisse Brock sold 15,444 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the sale, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

Conagra Brands Stock Down 0.5 %

Shares of NYSE:CAG opened at $30.15 on Friday. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $31.82. The firm’s 50-day moving average is $29.23 and its two-hundred day moving average is $29.35. The firm has a market capitalization of $14.41 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. Conagra Brands’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. Analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current year.

Conagra Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.40 annualized dividend and a dividend yield of 4.64%. Conagra Brands’s dividend payout ratio (DPR) is currently 191.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAG. Stifel Nicolaus cut their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Citigroup dropped their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, June 28th. Royal Bank of Canada lowered their price target on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Evercore ISI decreased their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Finally, Barclays cut their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $31.18.

About Conagra Brands

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.