SPC Financial Inc. Buys 1,300 Shares of Conagra Brands, Inc. (NYSE:CAG)

SPC Financial Inc. lifted its stake in shares of Conagra Brands, Inc. (NYSE:CAG) by 16.9% during the first quarter, Holdings Channel.com reports. The firm owned 9,000 shares of the company’s stock after acquiring an additional 1,300 shares during the period. SPC Financial Inc.’s holdings in Conagra Brands were worth $267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CAG. Naples Money Management LLC bought a new position in shares of Conagra Brands during the 4th quarter worth about $26,000. First United Bank & Trust acquired a new stake in shares of Conagra Brands in the 4th quarter worth about $26,000. Advantage Trust Co acquired a new stake in shares of Conagra Brands in the 4th quarter worth about $34,000. Parkside Financial Bank & Trust raised its holdings in shares of Conagra Brands by 48.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,397 shares of the company’s stock worth $40,000 after acquiring an additional 454 shares during the last quarter. Finally, Whittier Trust Co. raised 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 acquiring an additional 836 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 0.5 %

Shares of CAG stock opened at $28.52 on Friday. The company has a 50 day moving average of $29.50 and a 200-day moving average of $29.21. The company has a quick ratio of 0.33, a current ratio of 0.95 and a debt-to-equity ratio of 0.81. Conagra Brands, Inc. has a 12-month low of $25.16 and a 12-month high of $33.60. The firm has a market cap of $13.63 billion, a P/E ratio of 14.26, a PEG ratio of 2.80 and a beta of 0.32.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.57 by $0.04. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.93 billion. Conagra Brands had a net margin of 7.86% and a return on equity of 14.25%. Conagra Brands’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.62 EPS. Sell-side analysts anticipate that Conagra Brands, Inc. will post 2.62 earnings per share for the current year.

Conagra Brands Dividend Announcement

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CAG. Barclays upped their target price on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Stifel Nicolaus decreased 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. Citigroup decreased their price objective on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company decreased their price objective on shares of Conagra Brands from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Evercore ISI decreased their price objective 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. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $32.15.

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.