SPC Financial Inc. Acquires 2,400 Shares of Conagra Brands, Inc. (NYSE:CAG)

SPC Financial Inc. lifted its holdings in shares of Conagra Brands, Inc. (NYSE:CAG) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,700 shares of the company’s stock after purchasing an additional 2,400 shares during the period. SPC Financial Inc.’s holdings in Conagra Brands were worth $436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Conagra Brands during the 4th quarter valued at about $28,000. Riverview Trust Co bought a new stake in shares of Conagra Brands during the 4th quarter valued at about $29,000. Grove Bank & Trust boosted its holdings in Conagra Brands by 65.4% in the fourth quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock worth $31,000 after acquiring an additional 447 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Conagra Brands in the fourth quarter worth approximately $41,000. Finally, Stonebridge Financial Group LLC bought a new position in Conagra Brands in the fourth quarter worth approximately $44,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $25.39 on Thursday. The company has a market cap of $12.12 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 52 week low of $23.06 and a 52 week high of $33.24. The business has a 50 day moving average price of $25.90 and a 200-day moving average price of $28.29. 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 (NYSE:CAG) last issued its quarterly earnings results on Thursday, December 19th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. Conagra Brands’s revenue was down .4% on a year-over-year basis. During the same period last year, the business posted $0.71 earnings per share. Equities analysts anticipate that Conagra Brands, Inc. will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 27th. Investors of record on Monday, January 27th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend was Monday, January 27th. Conagra Brands’s payout ratio is 137.25%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Citigroup cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Wednesday, December 11th. Wells Fargo & Company cut their price target on Conagra Brands from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 18th. JPMorgan Chase & Co. cut 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. Finally, The Goldman Sachs Group lowered Conagra Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $33.00 to $26.00 in a report on Monday, February 24th. Eight investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.67.

Conagra Brands Company 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.