217,333 Shares in Conagra Brands $CAG Purchased by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC purchased 217,333 Conagra Brands shares worth approximately $2.9 million in the second quarter. Institutional investors collectively own 83.75% of the company.
• Conagra reported quarterly EPS of $0.47, slightly above the $0.46 consensus estimate, while revenue reached $2.88 billion, up 3.6% year over year but marginally below expectations.
• Analyst sentiment remains cautious: the stock has a consensus “Reduce” rating and an average price target of $14.07, below its reported opening price of $16.18. The company pays a quarterly dividend of $0.175 per share, equal to a 4.3% yield.

Jupiter Topco LLC bought a new stake in shares of Conagra Brands (NYSE:CAG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 217,333 shares of the company's stock, valued at approximately $2,922,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new position in Conagra Brands during the second quarter worth $26,000. Bell Investment Advisors Inc raised its stake in Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock valued at $26,000 after purchasing an additional 1,029 shares during the last quarter. Harbour Investments Inc. boosted its holdings in 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 period. MUFG Securities EMEA plc acquired a new stake in Conagra Brands in the 2nd quarter worth $29,000. Finally, Rakuten Securities Inc. grew its position 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 purchasing an additional 1,756 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $16.18 on Thursday. The firm has a market cap of $7.74 billion, a P/E ratio of -4.04 and a beta of -0.01. The firm's 50-day simple moving average is $14.96 and its 200-day simple moving average is $15.14. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. 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 (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, research analysts expect 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 was paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th were given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Thursday, July 30th. Conagra Brands's dividend payout ratio (DPR) is -17.50%.

Wall Street Analyst Weigh In

CAG has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of Conagra Brands from $14.00 to $15.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Royal Bank Of Canada lowered their price target 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. UBS Group upped their price target on Conagra Brands from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Morgan Stanley reduced their price objective on Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating for the company in a research report on Friday, June 5th. Finally, Barclays lifted their price objective on Conagra Brands from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Reduce" and a consensus price target of $14.07.

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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