Apollon Wealth Management LLC Acquires New Stake in Conagra Brands $CAG

Key Points

• Apollon Wealth Management LLC acquired 14,748 shares of Conagra Brands, valued at approximately $302,000, signaling confidence in the company's stock.
• Conagra Brands recently reported an earnings per share (EPS) of $0.39, which exceeded analysts' expectations of $0.33, despite a 5.8% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.35, representing a 7.5% dividend yield, with stockholders of record set to receive the payout on November 26th.

Apollon Wealth Management LLC acquired a new position in shares of Conagra Brands (NYSE:CAG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,748 shares of the company's stock, valued at approximately $302,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CAG. Beacon Investment Advisory Services Inc. grew its holdings in Conagra Brands by 3.2% during the 1st quarter. Beacon Investment Advisory Services Inc. now owns 14,548 shares of the company's stock worth $388,000 after acquiring an additional 450 shares during the period. Hexagon Capital Partners LLC grew its stake in Conagra Brands by 33.6% in the first quarter. Hexagon Capital Partners LLC now owns 2,009 shares of the company's stock valued at $54,000 after acquiring an additional 505 shares during the period. Equitable Trust Co. increased its stake in Conagra Brands by 1.8% during the 1st quarter. Equitable Trust Co. now owns 29,927 shares of the company's stock valued at $798,000 after purchasing an additional 536 shares in the last quarter. Independent Advisor Alliance increased its holdings in Conagra Brands by 6.1% during the 1st quarter. Independent Advisor Alliance now owns 9,327 shares of the company's stock worth $249,000 after purchasing an additional 539 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in Conagra Brands by 1.5% during the second quarter. Vontobel Holding Ltd. now owns 36,171 shares of the company's stock worth $740,000 after buying an additional 546 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. UBS Group reduced their target price on shares of Conagra Brands from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, September 24th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Conagra Brands in a research note on Wednesday, October 8th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $22.00 price objective on shares of Conagra Brands in a report on Thursday, October 2nd. JPMorgan Chase & Co. assumed coverage on Conagra Brands in a research report on Wednesday, August 20th. They set a "neutral" rating and a $20.00 target price on the stock. Finally, Sanford C. Bernstein set a $21.00 price objective on Conagra Brands and gave the stock a "market perform" rating in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $21.92.

Conagra Brands Price Performance

CAG stock opened at $18.57 on Friday. Conagra Brands has a one year low of $17.89 and a one year high of $30.38. The firm has a 50 day simple moving average of $18.90 and a two-hundred day simple moving average of $21.04. The stock has a market cap of $8.88 billion, a PE ratio of 10.55, a P/E/G ratio of 1.76 and a beta of 0.03. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.06. The business had revenue of $2.63 billion for the quarter, compared to analysts' expectations of $2.62 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The firm's revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.53 earnings per share. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, analysts predict that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.5%. Conagra Brands's dividend payout ratio is 79.55%.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.

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