Conagra Brands $CAG Shares Bought by Corient Private Wealth LP

Corient Private Wealth LP raised its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 687.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,413,871 shares of the company's stock after purchasing an additional 1,234,338 shares during the quarter. Corient Private Wealth LP owned 0.30% of Conagra Brands worth $19,030,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. NewEdge Advisors LLC increased its holdings in Conagra Brands by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company's stock worth $628,000 after buying an additional 954 shares during the period. United Services Automobile Association purchased a new position in Conagra Brands during the 1st quarter worth approximately $225,000. Empowered Funds LLC lifted its stake in Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company's stock valued at $970,000 after acquiring an additional 2,038 shares during the period. Woodline Partners LP lifted its stake in Conagra Brands by 40.7% during the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company's stock valued at $1,075,000 after acquiring an additional 11,664 shares during the period. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Conagra Brands by 3.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company's stock valued at $1,033,000 after acquiring an additional 1,900 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CAG shares. Barclays raised their target price on shares of Conagra Brands from $16.00 to $17.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Wells Fargo & Company decreased their price objective on Conagra Brands from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Monday, May 18th. Sanford C. Bernstein reiterated an "underperform" rating and set a $12.00 price target (down from $16.00) on shares of Conagra Brands in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on Conagra Brands from $14.00 to $12.00 and set a "hold" rating on the stock in a research report on Thursday, June 18th. Finally, Zacks Research lowered shares of Conagra Brands from a "hold" rating to a "strong sell" rating in a report on Monday, May 11th. One equities 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 MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $14.07.

Conagra Brands Price Performance

Shares of Conagra Brands stock opened at $16.08 on Friday. The firm has a market cap of $7.70 billion, a PE ratio of -4.02 and a beta of -0.03. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. The business has a 50-day moving average price of $14.79 and a 200 day moving average price of $15.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the business posted $0.56 earnings per share. Conagra Brands's revenue for the quarter was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Sell-side analysts predict 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. Stockholders of record on Thursday, July 30th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source