8,099 Shares in Conagra Brands, Inc. (NYSE:CAG) Purchased by Essex Financial Services Inc.

Essex Financial Services Inc. acquired a new position in Conagra Brands, Inc. (NYSE:CAG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,099 shares of the company’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Great Valley Advisor Group Inc. purchased a new stake in Conagra Brands in the 4th quarter worth about $214,000. Natixis Advisors L.P. raised its position in Conagra Brands by 3.1% in the 4th quarter. Natixis Advisors L.P. now owns 159,495 shares of the company’s stock worth $4,570,000 after purchasing an additional 4,839 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in shares of Conagra Brands by 62.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 21,060 shares of the company’s stock worth $604,000 after acquiring an additional 8,102 shares during the period. National Bank of Canada FI increased its position in shares of Conagra Brands by 16.1% during the fourth quarter. National Bank of Canada FI now owns 174,022 shares of the company’s stock worth $5,139,000 after acquiring an additional 24,094 shares during the period. Finally, Avidian Wealth Solutions LLC purchased a new position in shares of Conagra Brands during the fourth quarter worth approximately $288,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Conagra Brands

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

Conagra Brands Price Performance

NYSE CAG opened at $31.92 on Wednesday. The company has a market cap of $15.26 billion, a PE ratio of 43.73, a P/E/G ratio of 2.86 and a beta of 0.32. Conagra Brands, Inc. has a 52-week low of $25.16 and a 52-week high of $32.27. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.33 and a current ratio of 0.97. The firm’s 50 day moving average price is $29.83 and its 200-day moving average price is $29.65.

Conagra Brands (NYSE:CAG) last announced its earnings results on Thursday, July 11th. The company reported $0.61 earnings per share for the quarter, beating 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 2.88% and a return on equity of 14.31%. Conagra Brands’s revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.62 earnings per share. Sell-side analysts forecast that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were paid a $0.35 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.40 annualized dividend and a yield of 4.39%. Conagra Brands’s dividend payout ratio (DPR) is 191.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CAG shares. Citigroup reduced their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday, June 28th. Wells Fargo & Company reduced 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, July 10th. Evercore ISI reduced their target price on shares of Conagra Brands from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada reduced their target price on shares of Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Finally, Stifel Nicolaus reduced their target price on shares of Conagra Brands from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, July 12th. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $30.90.

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.