Spirit of America Management Corp NY Has $31,000 Stake in Conagra Brands, Inc. (NYSE:CAG)

Spirit of America Management Corp NY lowered its position in Conagra Brands, Inc. (NYSE:CAG) by 64.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,100 shares of the company’s stock after selling 2,000 shares during the period. Spirit of America Management Corp NY’s holdings in Conagra Brands were worth $31,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CAG. Hexagon Capital Partners LLC grew its position in Conagra Brands by 82.8% in the third quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock worth $30,000 after acquiring an additional 420 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Conagra Brands in the fourth quarter worth $28,000. Grove Bank & Trust increased its position in Conagra Brands by 65.4% during 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. Abich Financial Wealth Management LLC bought a new position in Conagra Brands during the third quarter valued at about $47,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Conagra Brands in the third quarter worth about $59,000. Institutional investors own 83.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CAG shares. Royal Bank of Canada reissued a “sector perform” rating and set a $29.00 price objective on shares of Conagra Brands in a report on Friday, December 20th. Wells Fargo & Company dropped their price target on shares of Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Citigroup reduced their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, December 11th. Stifel Nicolaus lowered their target price on shares of Conagra Brands from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Barclays cut their target price on shares of Conagra Brands from $33.00 to $32.00 and set an “overweight” rating for the company in a research report on Monday, December 23rd. Seven investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average target price of $30.33.

Conagra Brands Stock Performance

NYSE CAG opened at $25.10 on Thursday. The company’s fifty day moving average is $26.83 and its two-hundred day moving average is $28.96. Conagra Brands, Inc. has a 52-week low of $24.85 and a 52-week high of $33.24. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.70 and a quick ratio of 0.22. The firm has a market capitalization of $11.98 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 1.76 and a beta of 0.28.

Conagra Brands (NYSE:CAG) last released its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.02. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.15 billion. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the business earned $0.71 earnings per share. Equities research analysts forecast that Conagra Brands, Inc. will post 2.46 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 27th. Investors of record on Monday, January 27th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.58%. Conagra Brands’s payout ratio is 137.25%.

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.