Bank of America Corp DE Makes New Investment in Conagra Brands $CAG

Key Points

• Bank of America acquired 1.86 million Conagra Brands shares worth approximately $25 million in the second quarter, while institutional investors collectively owned 83.75% of the company.
• Conagra reported quarterly EPS of $0.47, slightly above estimates, on revenue of $2.88 billion; however, its net margin remained negative and revenue increased 3.6% year over year.
• The stock carries a consensus “Reduce” rating with a $14.10 target price, while analysts remain cautious ahead of upcoming results and expectations for declining earnings. Conagra currently pays a $0.70 annualized dividend, yielding about 4.7%.

Bank of America Corp DE acquired a new position in shares of Conagra Brands (NYSE:CAG - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,860,820 shares of the company's stock, valued at approximately $25,047,000. Bank of America Corp DE owned approximately 0.39% of Conagra Brands at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Conagra Brands during the second quarter valued at approximately $1,071,275,000. Dimensional Fund Advisors LP boosted its position in shares of Conagra Brands by 9.7% during the first quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company's stock valued at $303,771,000 after buying an additional 1,701,624 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of Conagra Brands by 34.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 10,404,020 shares of the company's stock worth $180,094,000 after buying an additional 2,669,959 shares during the period. Norges Bank purchased a new stake in shares of Conagra Brands in the fourth quarter worth approximately $145,656,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Conagra Brands by 23.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company's stock worth $140,659,000 after acquiring an additional 1,554,725 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Conagra Brands Stock Up 0.0%

Shares of NYSE CAG opened at $14.78 on Thursday. 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 stock has a market capitalization of $7.07 billion, a PE ratio of -3.70 and a beta of -0.01. The stock's fifty day simple moving average is $15.28 and its two-hundred day simple moving average is $14.72. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The company had revenue of $2.88 billion for 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%.The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. 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 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th were paid a dividend of $0.175 per share. The ex-dividend date was Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.7%. Conagra Brands's dividend payout ratio is presently -17.50%.

Trending Headlines about Conagra Brands

Here are the key news stories impacting Conagra Brands this week:

• Positive Sentiment: Conagra’s 2026 Future of Snacking report identifies growth opportunities in higher-protein foods, bold flavors, functional benefits and products tailored to specific health goals. The company also says consumers are increasingly using artificial intelligence to discover snack options, potentially supporting innovation across brands such as Slim Jim. Conagra Brands 2026 Future of Snacking Report Reuters report on AI and snack choices
• Neutral Sentiment: The company is scheduled to report its fiscal first-quarter results before the market opens on Sept. 30. Investors will focus on whether new product demand and pricing can offset broader pressure on consumer spending and food costs. Conagra first-quarter earnings outlook
• Negative Sentiment: Zacks expects Conagra’s upcoming first-quarter earnings to decline and says the company lacks the combination of earnings and estimate-revision trends typically associated with a likely earnings beat. That raises the risk of disappointing results or cautious guidance. Zacks Conagra earnings preview
• Negative Sentiment: Brokerages have assigned Conagra a consensus “Reduce” recommendation, reinforcing concerns about near-term fundamentals and limiting the benefit from the company’s favorable long-term snacking trends. Conagra consensus recommendation

Analyst Upgrades and Downgrades

CAG has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Friday, June 5th. JPMorgan Chase & Co. lifted their price target 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. Jefferies Financial Group reduced their price objective on Conagra Brands from $15.00 to $13.00 and set a "hold" rating on the stock in a report on Wednesday, May 27th. Barclays upped their target price on Conagra Brands from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Finally, Sanford C. Bernstein reiterated an "underperform" rating and set a $12.00 target price (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company's stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of "Reduce" and a consensus target price of $14.10.

Conagra Brands Company Profile

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded and private-label food products primarily in North America. Its portfolio spans frozen meals and sides, snacks, shelf-stable foods, condiments, refrigerated foods and cooking products, serving retail grocery, foodservice and other distribution channels.

Its well-known brands include Birds Eye, Healthy Choice, Banquet, Marie Callender's, Duncan Hines, Reddi-wip, Slim Jim, Vlasic, Hunt's and PAM.

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