Essex Financial Services Inc. Buys 26,424 Shares of Conagra Brands, Inc. (NYSE:CAG)

Essex Financial Services Inc. increased its holdings in shares of Conagra Brands, Inc. (NYSE:CAG - Free Report) by 307.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,015 shares of the company's stock after acquiring an additional 26,424 shares during the period. Essex Financial Services Inc.'s holdings in Conagra Brands were worth $972,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Conagra Brands during the 4th quarter worth about $28,000. Grove Bank & Trust increased its stake in Conagra Brands by 65.4% in the fourth 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 acquired a new stake in Conagra Brands in the third quarter worth $47,000. Kennebec Savings Bank bought a new position in shares of Conagra Brands during the third quarter worth $59,000. Finally, Quarry LP grew its holdings in shares of Conagra Brands by 229.7% in the 3rd quarter. Quarry LP now owns 1,820 shares of the company's stock valued at $59,000 after buying an additional 1,268 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Trading Up 1.3 %

Shares of CAG stock traded up $0.33 during trading hours on Friday, hitting $25.31. 6,372,535 shares of the company's stock traded hands, compared to its average volume of 5,260,751. The stock has a market cap of $12.08 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 1.70 and a beta of 0.28. The stock's 50 day simple moving average is $26.46 and its 200 day simple moving average is $28.72. 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, Inc. has a 12 month low of $24.18 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its earnings results on Thursday, December 19th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. Conagra Brands had a return on equity of 13.76% and a net margin of 4.13%. The business had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same period last year, the company earned $0.71 EPS. Conagra Brands's revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate 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 dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend is Monday, January 27th. Conagra Brands's dividend payout ratio is presently 137.26%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CAG shares. Bank of America decreased their price objective on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Friday, December 20th. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. JPMorgan Chase & Co. cut their price objective on shares of Conagra Brands from $30.00 to $29.00 and set a "neutral" rating on the stock in a research report on Friday, January 3rd. Citigroup lowered their target price on Conagra Brands from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Wednesday, December 11th. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $29.00 price target on shares of Conagra Brands in a report on Friday, December 20th. Seven analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $30.33.

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.