Conagra Brands $CAG Shares Bought by Meritage Portfolio Management

Key Points

• Meritage Portfolio Management increased its stake in Conagra Brands by 135.3%, acquiring a total of 159,648 shares valued at approximately $3.27 million.
• Conagra Brands reported $0.39 EPS for the last quarter, surpassing analysts' estimates and forecasting FY 2026 guidance of $1.70 to $1.85 EPS.
• A quarterly dividend of $0.35 per share was announced, resulting in an annualized yield of 7.5% for shareholders of record on October 30th.

Meritage Portfolio Management boosted its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 135.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 159,648 shares of the company's stock after acquiring an additional 91,807 shares during the period. Meritage Portfolio Management's holdings in Conagra Brands were worth $3,268,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management purchased a new position in Conagra Brands in the 1st quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Conagra Brands in the 1st quarter valued at about $27,000. Golden State Wealth Management LLC lifted its stake in Conagra Brands by 235.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock valued at $28,000 after buying an additional 741 shares in the last quarter. Wayfinding Financial LLC purchased a new position in Conagra Brands in the 1st quarter valued at about $34,000. Finally, ST Germain D J Co. Inc. boosted its stake in shares of Conagra Brands by 130.8% in the second quarter. ST Germain D J Co. Inc. now owns 1,992 shares of the company's stock worth $41,000 after acquiring an additional 1,129 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CAG. Stifel Nicolaus lowered their price target on Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a research note on Friday, July 11th. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the stock a "market perform" rating in a report on Friday, July 11th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Conagra Brands in a report on Wednesday, October 8th. Evercore ISI dropped their target price on shares of Conagra Brands from $24.00 to $23.00 and set an "in-line" rating for the company in a report on Wednesday, September 24th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $22.00 price objective on shares of Conagra Brands in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $21.92.

Conagra Brands Stock Performance

Conagra Brands stock opened at $18.58 on Monday. The firm has a 50 day simple moving average of $18.96 and a 200-day simple moving average of $21.29. Conagra Brands has a 1-year low of $17.89 and a 1-year high of $30.47. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 10.55, a price-to-earnings-growth ratio of 1.76 and a beta of 0.03.

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

Conagra Brands Dividend Announcement

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

About Conagra Brands

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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