Conagra Brands $CAG Holdings Raised by IFP Advisors Inc

Key Points

• IFP Advisors increased its Conagra Brands stake by 36.8% in the third quarter, bringing its holdings to 309,934 shares worth about $4.17 million. Institutional investors collectively own 83.75% of the company.
• Analysts remain cautious, with an average rating of “Reduce” and a consensus price target of $14.07; ratings include one Buy, twelve Holds and five Sells.
• Conagra exceeded quarterly earnings expectations with EPS of $0.41 versus the $0.28 consensus, while revenue reached $2.60 billion. The company declared a $0.175 quarterly dividend, equivalent to a 5.0% annualized yield.

IFP Advisors Inc raised its stake in Conagra Brands (NYSE:CAG - Free Report) by 36.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,934 shares of the company's stock after acquiring an additional 83,371 shares during the period. IFP Advisors Inc owned approximately 0.06% of Conagra Brands worth $4,166,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Frank Rimerman Advisors LLC acquired a new position in Conagra Brands during the 3rd quarter worth approximately $498,000. Counterpoint Mutual Funds LLC bought a new position in shares of Conagra Brands in the third quarter worth $8,468,000. TT Capital Management LLC grew its position in shares of Conagra Brands by 11.2% in the third quarter. TT Capital Management LLC now owns 14,911 shares of the company's stock valued at $200,000 after purchasing an additional 1,500 shares in the last quarter. Curated Wealth Partners LLC purchased a new position in shares of Conagra Brands during the 3rd quarter valued at $220,000. Finally, Mather Group LLC. grew its position in Conagra Brands by 16.3% during the third quarter. Mather Group LLC. now owns 68,083 shares of the company's stock valued at $915,000 after acquiring an additional 9,524 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Analysts Set New Price Targets

CAG has been the topic of several recent analyst reports. 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 report on Thursday, July 16th. UBS Group boosted their price objective on shares of Conagra Brands from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Barclays lowered their price objective on shares of Conagra Brands from $17.00 to $16.00 and set an "overweight" rating for the company in a research report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Conagra Brands from $12.00 to $13.00 and gave the stock a "hold" rating in a research note on Friday, September 18th. Finally, Zacks Research raised shares of Conagra Brands from a "strong sell" rating to a "hold" rating in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $14.07.

Conagra Brands Price Performance

Shares of CAG stock opened at $14.03 on Tuesday. The firm's 50-day moving average is $14.89 and its two-hundred day moving average is $14.41. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.39. The company has a market capitalization of $6.70 billion, a PE ratio of -3.52 and a beta of 0.02. 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, September 30th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.13. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.59 billion. Conagra Brands had a negative net margin of 16.95% and a positive return on equity of 11.46%. Conagra Brands's revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Analysts predict that Conagra Brands will post 1.46 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 5th will be paid a $0.1750 dividend. The ex-dividend date is Thursday, November 5th. This represents a $0.70 annualized dividend and a dividend yield of 5.0%. Conagra Brands's dividend payout ratio (DPR) is -17.59%.

About Conagra Brands

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded food products for retail, foodservice and other commercial customers. The company's portfolio includes frozen meals and side dishes, snacks, refrigerated foods, shelf-stable groceries, condiments and cooking products.

Its brands include Birds Eye, Healthy Choice, Marie Callender's, Banquet, Duncan Hines, Reddi-wip, Hunt's, Slim Jim, Orville Redenbacher's, Chef Boyardee, Hebrew National, Vlasic and PAM.

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