Wesbanco Bank Inc. Sells 2,069 Shares of Conagra Brands, Inc. (NYSE:CAG)

Wesbanco Bank Inc. lowered its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 8.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 23,417 shares of the company’s stock after selling 2,069 shares during the quarter. Wesbanco Bank Inc.’s holdings in Conagra Brands were worth $650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Conagra Brands by 7.4% in the third quarter. State Street Corp now owns 24,484,277 shares of the company’s stock valued at $796,229,000 after acquiring an additional 1,691,945 shares during the period. Nordea Investment Management AB grew its holdings in Conagra Brands by 5.3% during the 4th quarter. Nordea Investment Management AB now owns 12,285,579 shares of the company’s stock valued at $341,048,000 after purchasing an additional 618,096 shares during the last quarter. Geode Capital Management LLC raised its position in Conagra Brands by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 11,514,152 shares of the company’s stock worth $373,180,000 after purchasing an additional 196,100 shares during the period. Pacer Advisors Inc. lifted its stake in Conagra Brands by 21,015.0% in the third quarter. Pacer Advisors Inc. now owns 10,654,828 shares of the company’s stock worth $346,495,000 after purchasing an additional 10,604,367 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in shares of Conagra Brands by 2.0% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 6,290,625 shares of the company’s stock valued at $204,571,000 after buying an additional 122,590 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CAG shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 target price on shares of Conagra Brands in a research note on Friday, December 20th. Barclays lowered their price objective on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Citigroup lowered their price target 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, JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.56.

Conagra Brands Trading Up 0.2 %

Shares of NYSE:CAG opened at $25.35 on Friday. The company has a market capitalization of $12.10 billion, a PE ratio of 24.86, a P/E/G ratio of 1.74 and a beta of 0.29. 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 12-month low of $25.06 and a 12-month high of $33.24. The business’s fifty day simple moving average is $27.08 and its 200-day simple moving average is $29.17.

Conagra Brands (NYSE:CAG) last announced 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. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the company posted $0.71 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Shareholders of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 27th. This represents a $1.40 annualized dividend and a yield of 5.52%. Conagra Brands’s dividend payout ratio (DPR) 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.