Conagra Brands, Inc. (NYSE:CAG) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE reduced its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 54.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,859 shares of the company's stock after selling 21,204 shares during the quarter. Congress Wealth Management LLC DE's holdings in Conagra Brands were worth $496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Conagra Brands in the 4th quarter valued at about $28,000. Riverview Trust Co purchased a new stake in Conagra Brands in the fourth quarter valued at approximately $29,000. Grove Bank & Trust boosted its holdings 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 acquiring an additional 447 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Conagra Brands during the fourth quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Conagra Brands during the fourth quarter worth approximately $44,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CAG. Morgan Stanley assumed coverage on shares of Conagra Brands in a research report on Monday, March 24th. They set an "equal weight" rating and a $27.00 price objective on the stock. Stifel Nicolaus lowered their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company cut their price target on Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 18th. Barclays decreased their price target on Conagra Brands from $33.00 to $32.00 and set an "overweight" rating for the company in a report on Monday, December 23rd. Finally, 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. Nine analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $28.20.

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Conagra Brands Price Performance

CAG traded down $0.13 on Wednesday, hitting $26.48. 1,481,740 shares of the company were exchanged, compared to its average volume of 5,059,333. Conagra Brands, Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $33.24. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70. The firm has a market capitalization of $12.64 billion, a P/E ratio of 25.95, a price-to-earnings-growth ratio of 1.76 and a beta of 0.18. The business's fifty day moving average is $25.67 and its 200 day moving average is $27.53.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Monday, April 28th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.29%. Conagra Brands's dividend payout ratio is currently 137.25%.

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.