Sutton Place Investors LLC acquired a new position in shares of Conagra Brands (NYSE:CAG – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 33,160 shares of the company’s stock, valued at approximately $446,000.
A number of other large investors have also recently made changes to their positions in CAG. NewEdge Advisors LLC grew its holdings in Conagra Brands by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after acquiring an additional 954 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of Conagra Brands in the 1st quarter valued at $225,000. Empowered Funds LLC raised its holdings in shares of Conagra Brands by 5.9% in the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after purchasing an additional 2,038 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Conagra Brands by 40.7% in the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock valued at $1,075,000 after purchasing an additional 11,664 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in shares of Conagra Brands by 3.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock worth $1,033,000 after purchasing an additional 1,900 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on CAG shares. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft cut their price target on Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, June 18th. Zacks Research downgraded Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Royal Bank Of Canada lowered their price objective on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Finally, Morgan Stanley dropped their price objective on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $14.07.
Conagra Brands Stock Up 1.6%
CAG opened at $15.63 on Friday. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The business has a 50 day moving average price of $14.24 and a two-hundred day moving average price of $15.42. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. The company has a market cap of $7.48 billion, a PE ratio of -3.91 and a beta of -0.03.
Conagra Brands (NYSE:CAG – Get Free Report) last announced its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, research analysts anticipate that Conagra Brands will post 1.45 EPS for the current year.
Conagra Brands Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio (DPR) is -17.50%.
Conagra Brands Company Profile
Conagra Brands, Inc is a leading packaged foods company based in Chicago, Illinois, with a broad portfolio of shelf-stable, frozen and refrigerated foods marketed under familiar brands. The company develops, produces and distributes a wide range of consumer food products, serving both retail grocery and foodservice channels. Conagra’s product lineup includes frozen entrees, snacks, condiments, baking goods and desserts, providing convenient meal solutions for consumers across North America and select international markets.
Among its well-known brands are Birds Eye, Healthy Choice, Lean Cuisine, Marie Callender’s and Banquet in the frozen foods category, as well as Hunt’s sauces, Orville Redenbacher’s popcorn, Slim Jim meat snacks and Reddi-wip toppings.
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