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

Spirit of America Management Corp NY reduced its stake in Conagra Brands, Inc. (NYSE:CAG) by 64.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC boosted its stake in Conagra Brands by 82.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 927 shares of the company’s stock valued at $30,000 after buying an additional 420 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Conagra Brands during the fourth quarter valued at $28,000. Grove Bank & Trust boosted its stake in shares of Conagra Brands by 65.4% in the 4th quarter. Grove Bank & Trust now owns 1,131 shares of the company’s stock valued at $31,000 after purchasing an additional 447 shares in the last quarter. Abich Financial Wealth Management LLC bought a new stake in shares of Conagra Brands in the 3rd quarter worth about $47,000. Finally, Kennebec Savings Bank acquired a new stake in shares of Conagra Brands during the 3rd quarter worth about $59,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of recent analyst reports. Bank of America decreased their price objective on shares of Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Friday, December 20th. Citigroup decreased their price target on Conagra Brands from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 11th. JPMorgan Chase & Co. cut their price objective 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. Wells Fargo & Company decreased their target price on Conagra Brands from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Stifel Nicolaus lowered their target price on Conagra Brands from $30.00 to $28.00 and set a “hold” rating for the company in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Conagra Brands has an average rating of “Hold” and a consensus price target of $30.33.

Conagra Brands Trading Up 0.3 %

Shares of CAG opened at $25.10 on Thursday. The stock’s fifty day simple moving average is $26.83 and its 200-day simple moving average is $28.96. The firm has a market capitalization of $11.98 billion, a PE ratio of 24.61, a price-to-earnings-growth ratio of 1.76 and a beta of 0.28. Conagra Brands, Inc. has a 12-month low of $24.85 and a 12-month high of $33.24. The company has a quick ratio of 0.22, a current ratio of 0.70 and a debt-to-equity ratio of 0.71.

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

Conagra Brands Dividend Announcement

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

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.