Meeder Advisory Services Inc. bought a new stake in Conagra Brands (NYSE:CAG – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 53,714 shares of the company’s stock, valued at approximately $723,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bell Investment Advisors Inc grew its holdings in shares of Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after purchasing an additional 1,029 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Conagra Brands during the second quarter worth about $26,000. Harbour Investments Inc. lifted its holdings in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Conagra Brands in the 2nd quarter valued at about $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Conagra Brands in the 3rd quarter valued at about $33,000. 83.75% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CAG shares. Sanford C. Bernstein restated an “underperform” rating and set a $12.00 price target (down from $16.00) on shares of Conagra Brands in a research note on Wednesday, June 3rd. Royal Bank Of Canada lowered their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 16th. BNP Paribas Exane reduced their price target on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 21st. JPMorgan Chase & Co. increased their price target on shares of Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, UBS Group upped their target price on shares of Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Reduce” and an average price target of $14.07.
Conagra Brands Price Performance
Conagra Brands stock opened at $16.25 on Friday. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. 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 firm’s 50-day simple moving average is $14.45 and its 200 day simple moving average is $15.34. The firm has a market capitalization of $7.78 billion, a PE ratio of -4.06 and a beta of -0.03.
Conagra Brands (NYSE:CAG – Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $2.88 billion during 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%.Conagra Brands’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities research analysts predict that Conagra Brands will post 1.45 EPS for the current fiscal year.
Conagra Brands Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s payout ratio is presently -17.50%.
Conagra Brands 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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