Carolina Wealth Advisors LLC Trims Position in Conagra Brands, Inc. (NYSE:CAG)

Carolina Wealth Advisors LLC decreased its position in Conagra Brands, Inc. (NYSE:CAG) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 138,983 shares of the company’s stock after selling 2,327 shares during the period. Conagra Brands comprises approximately 2.1% of Carolina Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Carolina Wealth Advisors LLC’s holdings in Conagra Brands were worth $3,857,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Courier Capital LLC boosted its holdings in shares of Conagra Brands by 1.3% in the third quarter. Courier Capital LLC now owns 27,062 shares of the company’s stock worth $880,000 after buying an additional 355 shares during the last quarter. CWM LLC raised its position in Conagra Brands by 0.4% in the third quarter. CWM LLC now owns 87,222 shares of the company’s stock worth $2,836,000 after acquiring an additional 359 shares during the period. Empirical Finance LLC grew its position in shares of Conagra Brands by 2.3% during the 3rd quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock valued at $533,000 after acquiring an additional 362 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Conagra Brands by 0.7% in the 3rd quarter. Arkadios Wealth Advisors now owns 52,769 shares of the company’s stock worth $1,716,000 after purchasing an additional 376 shares in the last quarter. Finally, Bridgewater Advisors Inc. lifted its position in Conagra Brands by 1.5% during the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock valued at $820,000 after purchasing an additional 376 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Stock Performance

Conagra Brands stock opened at $25.58 on Thursday. The company’s 50-day moving average price is $27.35 and its 200-day moving average price is $29.28. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71. Conagra Brands, Inc. has a twelve month low of $25.43 and a twelve month high of $33.24. The company has a market cap of $12.21 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.76 and a beta of 0.29.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company posted $0.71 EPS. Conagra Brands’s quarterly revenue was down .4% on a year-over-year basis. On average, equities research analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.47%. Conagra Brands’s payout ratio is 137.26%.

Wall Street Analysts Forecast Growth

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

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.