Wells Fargo & Company MN Has $27.68 Million Holdings in Conagra Brands, Inc. (NYSE:CAG)

Wells Fargo & Company MN decreased its stake in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 997,612 shares of the company's stock after selling 72,988 shares during the period. Wells Fargo & Company MN owned approximately 0.21% of Conagra Brands worth $27,684,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Conagra Brands in the fourth quarter worth approximately $28,000. Riverview Trust Co bought a new position in Conagra Brands during the fourth quarter valued at about $29,000. Grove Bank & Trust lifted its stake in Conagra Brands by 65.4% during 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 last quarter. SBI Securities Co. Ltd. bought a new position in shares of Conagra Brands in the fourth quarter valued at $41,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Conagra Brands during the 4th quarter worth $44,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CAG has been the topic of a number of analyst reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a research note on Friday, December 20th. Wells Fargo & Company reduced their price target on shares of Conagra Brands from $28.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 18th. Stifel Nicolaus decreased their target price on Conagra Brands from $28.00 to $26.00 and set a "hold" rating for the company in a research report on Wednesday, February 19th. Morgan Stanley started coverage on Conagra Brands in a research note on Monday, March 24th. They set an "equal weight" rating and a $27.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Conagra Brands from $29.00 to $26.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Nine equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $27.90.

Conagra Brands Price Performance

NYSE CAG traded up $0.37 on Thursday, hitting $25.27. 1,729,431 shares of the company were exchanged, compared to its average volume of 5,109,330. The company has a current ratio of 0.70, a quick ratio of 0.22 and a debt-to-equity ratio of 0.71. The company has a market cap of $12.06 billion, a P/E ratio of 24.78, a P/E/G ratio of 1.76 and a beta of 0.27. Conagra Brands, Inc. has a 1-year low of $23.06 and a 1-year high of $33.24. The firm has a 50 day moving average of $25.74 and a two-hundred day moving average of $27.03.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Thursday, April 3rd. The company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.92 billion. Conagra Brands had a net margin of 4.13% and a return on equity of 13.76%. The business's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, equities analysts predict that Conagra Brands, Inc. will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Monday, April 28th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date of this dividend is Monday, April 28th. Conagra Brands's dividend payout ratio is presently 205.88%.

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.