Western Wealth Management LLC increased its position in Conagra Brands (NYSE:CAG – Free Report) by 205.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 46,232 shares of the company’s stock after acquiring an additional 31,105 shares during the quarter. Western Wealth Management LLC’s holdings in Conagra Brands were worth $622,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bell Investment Advisors Inc boosted its position in 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 period. CYBER HORNET ETFs LLC bought a new stake in shares of Conagra Brands in the second quarter valued at approximately $26,000. Harbour Investments Inc. lifted its stake in shares of Conagra Brands by 80.4% during the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after buying an additional 701 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Conagra Brands during the 2nd quarter valued at approximately $29,000. Finally, Rakuten Securities Inc. boosted its holdings in Conagra Brands by 339.7% in the 2nd quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock worth $31,000 after buying an additional 1,756 shares during the period. 83.75% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts recently weighed in on CAG shares. BNP Paribas Exane reduced their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Barclays increased their target price on Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $12.00 price target (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. Jefferies Financial Group reduced their price target on Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada decreased their price objective on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $14.07.
Conagra Brands Stock Performance
Conagra Brands stock opened at $16.25 on Wednesday. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $20.32. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $7.78 billion, a PE ratio of -4.06 and a beta of -0.03. The firm’s 50 day simple moving average is $14.61 and its 200 day simple moving average is $15.28.
Conagra Brands (NYSE:CAG – Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, analysts expect that Conagra Brands will post 1.45 earnings per share for the current fiscal year.
Conagra Brands Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 4.3%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s payout ratio is presently -17.50%.
About Conagra Brands
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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