Ieq Capital LLC acquired a new stake in Conagra Brands (NYSE:CAG – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 257,701 shares of the company’s stock, valued at approximately $3,469,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of CAG. CYBER HORNET ETFs LLC acquired a new stake in Conagra Brands in the second quarter valued at $26,000. MUFG Securities EMEA plc purchased a new stake in shares of Conagra Brands in the 2nd quarter worth about $29,000. Harbour Investments Inc. boosted its position 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 worth $27,000 after buying an additional 701 shares in the last quarter. Bell Investment Advisors Inc grew its stake in Conagra Brands by 156.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in Conagra Brands in the 3rd quarter valued at about $33,000. 83.75% of the stock is owned by institutional investors and hedge funds.
Conagra Brands Stock Up 1.4%
Shares of NYSE CAG opened at $16.65 on Tuesday. The firm has a market cap of $7.97 billion, a P/E ratio of -4.16 and a beta of -0.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The firm’s 50 day moving average price is $14.56 and its 200 day moving average price is $15.31.
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 4.2%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s payout ratio is presently -17.50%.
Analyst Ratings Changes
A number of brokerages have issued reports on CAG. Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Morgan Stanley dropped their price objective on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Friday, June 5th. Weiss Ratings downgraded Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. Jefferies Financial Group reduced their target price on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. Finally, Royal Bank Of Canada lowered their target price on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Conagra Brands currently has an average rating of “Reduce” and a consensus target price of $14.07.
Read Our Latest Stock Analysis on Conagra Brands
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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