SPC Financial Inc. Lowers Stake in Conagra Brands $CAG

SPC Financial Inc. cut its position in shares of Conagra Brands (NYSE:CAG) by 11.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,300 shares of the company’s stock after selling 1,900 shares during the quarter. SPC Financial Inc.’s holdings in Conagra Brands were worth $313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpine Bank Wealth Management purchased a new stake in shares of Conagra Brands during the first quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Conagra Brands during the first quarter worth about $27,000. Golden State Wealth Management LLC grew its holdings in Conagra Brands by 235.2% in the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after purchasing an additional 741 shares during the period. Wayfinding Financial LLC purchased a new stake in Conagra Brands in the first quarter valued at approximately $34,000. Finally, Summit Securities Group LLC purchased a new stake in Conagra Brands in the first quarter valued at approximately $45,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 0.4%

Shares of CAG stock opened at $18.58 on Monday. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 1.76 and a beta of 0.03. The company has a quick ratio of 0.44, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Conagra Brands has a fifty-two week low of $17.89 and a fifty-two week high of $30.47. The firm’s 50 day moving average price is $18.96 and its two-hundred day moving average price is $21.29.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, analysts anticipate that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Thursday, October 30th. Conagra Brands’s payout ratio is presently 79.55%.

Analysts Set New Price Targets

CAG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Conagra Brands in a report on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 target price for the company. Wells Fargo & Company boosted their target price on shares of Conagra Brands from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the company a “market perform” rating in a report on Friday, July 11th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a report on Friday, July 11th. Finally, Zacks Research raised shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $21.92.

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.