Meritage Portfolio Management Has $1.91 Million Position in Conagra Brands, Inc. (NYSE:CAG)

Meritage Portfolio Management cut its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,825 shares of the company’s stock after selling 4,523 shares during the period. Meritage Portfolio Management’s holdings in Conagra Brands were worth $1,910,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CAG. Thurston Springer Miller Herd & Titak Inc. bought a new position in Conagra Brands during the 4th quarter worth $28,000. Hexagon Capital Partners LLC boosted its holdings in shares of Conagra Brands by 82.8% during the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after buying an additional 420 shares in the last quarter. Grove Bank & Trust grew its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after purchasing an additional 447 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Conagra Brands during the 3rd quarter worth about $47,000. Finally, ST Germain D J Co. Inc. grew its holdings in Conagra Brands by 36.2% during the fourth quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock worth $55,000 after buying an additional 529 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on CAG shares. Bank of America cut their price target 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. Barclays decreased their price objective on Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a report on Monday, December 23rd. Stifel Nicolaus dropped their price target on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Citigroup lowered their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Seven investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $30.33.

Conagra Brands Stock Up 0.3 %

CAG stock opened at $25.10 on Thursday. Conagra Brands, Inc. has a fifty-two week low of $24.85 and a fifty-two week high of $33.24. The company has a market capitalization of $11.98 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. The business’s 50 day moving average price is $26.83 and its two-hundred day moving average price is $28.96. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 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 analysts’ expectations of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. As a group, analysts forecast that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 5.58%. Conagra Brands’s dividend payout ratio (DPR) is 137.25%.

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.