Conagra Brands, Inc. (NYSE:CAG) Shares Acquired by SPC Financial Inc.

SPC Financial Inc. increased its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,000 shares of the company’s stock after purchasing an additional 1,300 shares during the quarter. SPC Financial Inc.’s holdings in Conagra Brands were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CAG. Naples Money Management LLC purchased a new position in Conagra Brands during the 4th quarter worth $26,000. First United Bank & Trust purchased a new position in Conagra Brands during the fourth quarter worth about $26,000. Advantage Trust Co purchased a new stake in Conagra Brands in the 4th quarter valued at approximately $34,000. Parkside Financial Bank & Trust boosted its holdings in Conagra Brands by 48.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock valued at $40,000 after purchasing an additional 454 shares in the last quarter. Finally, Whittier Trust Co. increased its position in Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock worth $42,000 after purchasing an additional 836 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.5 %

Shares of NYSE:CAG opened at $28.52 on Friday. The company has a market capitalization of $13.63 billion, a P/E ratio of 14.26, a P/E/G ratio of 2.80 and a beta of 0.32. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. The stock’s fifty day simple moving average is $29.50 and its 200-day simple moving average is $29.21. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $33.60.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Thursday, July 11th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. The business had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Conagra Brands, Inc. will post 2.62 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 1st will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend is Thursday, August 1st. Conagra Brands’s dividend payout ratio (DPR) is 70.35%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Evercore ISI reduced their price target on Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Friday. 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 research note on Friday, June 28th. Stifel Nicolaus reduced their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Barclays increased their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $32.15.

Insider Activity

In related news, EVP Charisse Brock sold 15,444 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $30.37, for a total transaction of $469,034.28. Following the transaction, the executive vice president now directly owns 113,254 shares in the company, valued at $3,439,523.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

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.