Wesbanco Bank Inc. Has $815,000 Stock Holdings in Conagra Brands, Inc. (NYSE:CAG)

Wesbanco Bank Inc. lessened its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 1.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,674 shares of the company’s stock after selling 359 shares during the period. Wesbanco Bank Inc.’s holdings in Conagra Brands were worth $815,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Teacher Retirement System of Texas raised its position in Conagra Brands by 316.6% during the fourth quarter. Teacher Retirement System of Texas now owns 154,013 shares of the company’s stock worth $4,414,000 after acquiring an additional 117,042 shares in the last quarter. Valley Wealth Managers Inc. grew its holdings in Conagra Brands by 7.7% during the fourth quarter. Valley Wealth Managers Inc. now owns 517,792 shares of the company’s stock worth $14,840,000 after purchasing an additional 37,149 shares during the period. Bessemer Group Inc. increased its position in Conagra Brands by 237.9% during the first quarter. Bessemer Group Inc. now owns 76,971 shares of the company’s stock worth $2,281,000 after buying an additional 54,195 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Conagra Brands by 12.2% in the fourth quarter. Stifel Financial Corp now owns 815,947 shares of the company’s stock valued at $23,385,000 after buying an additional 88,576 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Conagra Brands by 60.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 71,374 shares of the company’s stock worth $2,046,000 after acquiring an additional 26,774 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Down 0.5 %

CAG stock opened at $30.15 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.97 and a debt-to-equity ratio of 0.88. Conagra Brands, Inc. has a 52 week low of $25.16 and a 52 week high of $31.82. The company has a market cap of $14.41 billion, a PE ratio of 41.51, a price-to-earnings-growth ratio of 2.65 and a beta of 0.32. The business has a 50-day simple moving average of $29.23 and a 200 day simple moving average of $29.35.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.04. Conagra Brands had a return on equity of 14.31% and a net margin of 2.88%. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sell-side analysts anticipate that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s payout ratio is 191.78%.

Insider Buying and Selling at Conagra Brands

In related news, EVP Charisse Brock sold 15,444 shares of Conagra Brands stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total value of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares of the company’s stock, valued at $3,439,523.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research analyst reports. Royal Bank of Canada dropped their price target on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Barclays dropped their price objective on shares of Conagra Brands from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Evercore ISI reduced their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Citigroup lowered their price target on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a report on Friday, June 28th. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Ten research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Conagra Brands currently has an average rating of “Hold” and an average target price of $31.18.

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.