SPC Financial Inc. Purchases 1,700 Shares of Conagra Brands, Inc. (NYSE:CAG)

SPC Financial Inc. grew its position in Conagra Brands, Inc. (NYSE:CAG) by 18.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,700 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. SPC Financial Inc.’s holdings in Conagra Brands were worth $304,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in Conagra Brands during the second quarter valued at $25,000. Chilton Capital Management LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at about $25,000. Whittier Trust Co. boosted its position in shares of Conagra Brands by 144.4% during the 1st quarter. Whittier Trust Co. now owns 1,415 shares of the company’s stock valued at $42,000 after purchasing an additional 836 shares in the last quarter. LRI Investments LLC acquired a new stake in Conagra Brands during the first quarter worth approximately $42,000. Finally, Security National Bank bought a new stake in Conagra Brands in the fourth quarter worth approximately $48,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE CAG opened at $32.72 on Wednesday. The company has a fifty day moving average price of $31.28 and a 200-day moving average price of $30.27. The firm has a market cap of $15.64 billion, a price-to-earnings ratio of 44.82, a PEG ratio of 2.95 and a beta of 0.32. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.97 and a quick ratio of 0.33. Conagra Brands, Inc. has a 1 year low of $25.16 and a 1 year high of $33.24.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Thursday, July 11th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.57 by $0.04. Conagra Brands had a net margin of 2.88% and a return on equity of 14.31%. The firm had revenue of $2.91 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts predict that Conagra Brands, Inc. will post 2.61 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 1st were given 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 4.28%. Conagra Brands’s dividend payout ratio is currently 191.78%.

Analyst Upgrades and Downgrades

CAG has been the subject of several recent analyst reports. Citigroup reduced 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 report on Friday, June 28th. The Goldman Sachs Group began coverage on shares of Conagra Brands in a research note on Monday, August 12th. They issued a “buy” rating and a $36.00 price target for the company. Stifel Nicolaus cut their price objective 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. Barclays decreased their target price on Conagra Brands from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Finally, Royal Bank of Canada reduced their price objective on Conagra Brands from $30.00 to $29.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $31.10.

Insider Buying and Selling at Conagra Brands

In related news, COO Thomas M. Mcgough sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now directly owns 161,443 shares of the company’s stock, valued at approximately $4,890,108.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.88% of the company’s stock.

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.