Y Intercept Hong Kong Ltd Makes New $10.47 Million Investment in Conagra Brands $CAG

Y Intercept Hong Kong Ltd bought a new position in shares of Conagra Brands (NYSE:CAG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 511,248 shares of the company’s stock, valued at approximately $10,465,000. Y Intercept Hong Kong Ltd owned about 0.11% of Conagra Brands at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Conagra Brands during the 1st quarter valued at about $27,000. Golden State Wealth Management LLC grew its holdings in Conagra Brands by 235.2% during 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 last quarter. Wayfinding Financial LLC acquired a new position in Conagra Brands during the first quarter valued at approximately $34,000. ST Germain D J Co. Inc. grew its holdings in Conagra Brands by 130.8% during the second quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company’s stock valued at $41,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in Conagra Brands in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CAG shares. Zacks Research upgraded shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 2nd. Evercore ISI lowered their price target on Conagra Brands from $24.00 to $23.00 and set an “in-line” rating on the stock in a research report on Wednesday, September 24th. JPMorgan Chase & Co. initiated coverage on Conagra Brands in a report on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 target price on the stock. UBS Group lowered their target price on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. Finally, Morgan Stanley raised their target price on Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $21.92.

Conagra Brands Stock Down 1.0%

CAG stock opened at $18.29 on Monday. Conagra Brands has a twelve month low of $17.89 and a twelve month high of $29.91. The company has a market cap of $8.75 billion, a PE ratio of 10.39, a price-to-earnings-growth ratio of 1.73 and a beta of 0.03. The business’s 50-day simple moving average is $18.82 and its 200 day simple moving average is $20.75. 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 (NYSE:CAG) last posted its quarterly earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share 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 firm had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.62 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue 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, research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 30th. This represents a $1.40 dividend on an annualized basis and a yield of 7.7%. Conagra Brands’s payout ratio is 79.55%.

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.