SPC Financial Inc. Raises Stock Position in Conagra Brands, Inc. (NYSE:CAG)

SPC Financial Inc. lifted its stake in Conagra Brands, Inc. (NYSE:CAG) by 24.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,300 shares of the company’s stock after purchasing an additional 2,600 shares during the period. SPC Financial Inc.’s holdings in Conagra Brands were worth $433,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Conagra Brands in the second quarter worth about $25,000. Chilton Capital Management LLC purchased a new stake in Conagra Brands during the 2nd quarter valued at about $25,000. Hexagon Capital Partners LLC increased its position in shares of Conagra Brands by 82.8% during the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after acquiring an additional 420 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of Conagra Brands by 144.4% in 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 in the last quarter. Finally, LRI Investments LLC bought a new stake in Conagra Brands in the 1st quarter worth about $42,000. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CAG. Evercore ISI decreased their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company increased their target price on Conagra Brands from $30.00 to $31.00 and gave the company an “equal weight” rating in a report on Thursday. Stifel Nicolaus cut their price target on Conagra Brands from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, July 12th. Citigroup lowered their price objective 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. Finally, BNP Paribas upgraded shares of Conagra Brands to a “strong-buy” rating in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of “Hold” and a consensus price target of $31.63.

Conagra Brands Trading Up 2.0 %

Conagra Brands stock opened at $30.31 on Friday. The firm has a market capitalization of $14.49 billion, a price-to-earnings ratio of 41.52, a P/E/G ratio of 3.01 and a beta of 0.32. Conagra Brands, Inc. has a 12-month low of $26.62 and a 12-month high of $33.24. The firm has a 50 day moving average of $31.15 and a 200 day moving average of $30.29. The company has a current ratio of 0.94, a quick ratio of 0.33 and a debt-to-equity ratio of 0.86.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, October 2nd. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.07). Conagra Brands had a net margin of 4.14% and a return on equity of 13.71%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter last year, the firm posted $0.66 EPS. The firm’s quarterly revenue was down 3.8% compared to the same quarter last year. As a group, research analysts predict that Conagra Brands, Inc. will post 2.59 earnings per share for the current year.

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, October 31st will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 4.62%. The ex-dividend date is Thursday, October 31st. Conagra Brands’s dividend payout ratio is currently 191.78%.

Insider Activity at Conagra Brands

In other Conagra Brands news, COO Thomas M. Mcgough sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $30.29, for a total transaction of $1,211,600.00. Following the completion of the sale, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at $4,890,108.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.88% of the stock is owned by corporate insiders.

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.