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

SPC Financial Inc. boosted its position in Conagra Brands, Inc. (NYSE:CAG) by 18.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,700 shares of the company’s stock after buying an additional 2,400 shares during the quarter. SPC Financial Inc.’s holdings in Conagra Brands were worth $436,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Empirical Finance LLC increased its position in Conagra Brands by 2.3% in the third quarter. Empirical Finance LLC now owns 16,379 shares of the company’s stock worth $533,000 after buying an additional 362 shares during the last quarter. Bridgewater Advisors Inc. increased its position in Conagra Brands by 1.5% in the third quarter. Bridgewater Advisors Inc. now owns 25,224 shares of the company’s stock worth $820,000 after buying an additional 376 shares during the last quarter. Grove Bank & Trust increased its position 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 buying an additional 447 shares during the last quarter. CIBC Asset Management Inc increased its position in Conagra Brands by 0.6% in the fourth quarter. CIBC Asset Management Inc now owns 84,534 shares of the company’s stock worth $2,346,000 after buying an additional 501 shares during the last quarter. Finally, International Private Wealth Advisors LLC increased its position in Conagra Brands by 5.2% in the fourth quarter. International Private Wealth Advisors LLC now owns 10,644 shares of the company’s stock worth $295,000 after buying an additional 527 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

NYSE:CAG opened at $25.39 on Thursday. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of 24.89, a P/E/G 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 stock has a fifty day moving average of $25.90 and a 200 day moving average of $28.29. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.22 and a current ratio of 0.70.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.71 earnings per share. On average, research analysts expect that Conagra Brands, Inc. will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

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

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their target price on Conagra Brands from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Friday, January 3rd. Bank of America cut their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company 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 for the company 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 for the company in a report on Tuesday, February 18th. 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 equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Conagra Brands has a consensus rating of “Hold” and a consensus target price of $28.67.

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.