Conagra Brands $CAG Shares Bought by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its holdings in Conagra Brands by 16.7% during the second quarter, owning 258,887 shares valued at approximately $5.3 million.
• Conagra Brands reported earnings of $0.39 per share for the last quarter, exceeding analyst expectations of $0.33, despite a 5.8% decline in year-over-year revenue.
• The company declared a quarterly dividend of $0.35 per share, reflecting an annualized dividend yield of 7.6% and a payout ratio of 79.55%.

TD Asset Management Inc raised its holdings in Conagra Brands (NYSE:CAG - Free Report) by 16.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 258,887 shares of the company's stock after buying an additional 37,009 shares during the period. TD Asset Management Inc owned about 0.05% of Conagra Brands worth $5,299,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CAG. Alpine Bank Wealth Management acquired a new stake in Conagra Brands in the first quarter valued at $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Conagra Brands in the first quarter valued at $27,000. Golden State Wealth Management LLC raised its stake in Conagra Brands by 235.2% in the first 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 acquired a new stake in Conagra Brands in the first quarter valued at $34,000. Finally, ST Germain D J Co. Inc. raised its stake in 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 valued at $41,000 after buying an additional 1,129 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

NYSE CAG opened at $18.50 on Tuesday. The company has a quick ratio of 0.44, a current ratio of 1.06 and a debt-to-equity ratio of 0.81. Conagra Brands has a 52-week low of $17.89 and a 52-week high of $30.36. The business's 50-day moving average price is $18.89 and its 200 day moving average price is $20.94. The firm has a market cap of $8.85 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.76 and a beta of 0.03.

Conagra Brands (NYSE:CAG - Get Free Report) last released its quarterly earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.06. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the company posted $0.53 earnings per share. The business's revenue 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, equities research analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, October 30th will be issued a dividend of $0.35 per share. 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 7.6%. Conagra Brands's dividend payout ratio (DPR) is currently 79.55%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Sanford C. Bernstein set a $21.00 target price on Conagra Brands and gave the stock a "market perform" rating in a research report on Friday, July 11th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $22.00 target price on shares of Conagra Brands in a research 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. Weiss Ratings reiterated a "sell (d+)" rating on shares of Conagra Brands in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company lifted their target price on Conagra Brands from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 2nd. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Conagra Brands has an average rating of "Reduce" and an average target price of $21.92.

Conagra Brands 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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