Legal & General Group Plc raised its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 21.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,225,900 shares of the company's stock after acquiring an additional 214,180 shares during the period. Legal & General Group Plc owned approximately 0.26% of Conagra Brands worth $16,501,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in shares of Conagra Brands by 24.8% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company's stock valued at $11,442,000 after acquiring an additional 131,287 shares during the period. Goldman Sachs Group Inc. lifted its holdings 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 valued at $140,659,000 after acquiring an additional 1,554,725 shares in the last quarter. Leonteq Securities AG purchased a new stake in Conagra Brands during the 4th quarter worth $2,415,000. Marathon Trading Investment Management LLC acquired a new stake in Conagra Brands in the 4th quarter valued at $1,367,000. Finally, Hsbc Holdings PLC increased its holdings in Conagra Brands by 25.0% in the 4th quarter. Hsbc Holdings PLC now owns 785,989 shares of the company's stock valued at $13,634,000 after purchasing an additional 157,423 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have commented on the company. Weiss Ratings cut Conagra Brands from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, June 25th. Royal Bank Of Canada decreased their target price on Conagra Brands from $16.00 to $14.00 and set a "sector perform" rating for the company in a research report on Thursday, July 16th. Morgan Stanley lowered their target price on Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating for the company in a research note on Friday, June 5th. Jefferies Financial Group dropped their target price on Conagra Brands from $15.00 to $13.00 and set a "hold" rating on the stock in a report on Wednesday, May 27th. Finally, Barclays boosted their price target on Conagra Brands from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, Conagra Brands presently has a consensus rating of "Reduce" and a consensus target price of $14.07.
Check Out Our Latest Stock Report on Conagra Brands
Conagra Brands Stock Performance
Shares of CAG stock opened at $16.08 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. The company's fifty day moving average price is $14.79 and its two-hundred day moving average price is $15.22. The firm has a market capitalization of $7.70 billion, a P/E ratio of -4.02 and a beta of -0.03. 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 announced its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the firm earned $0.56 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, research analysts anticipate that Conagra Brands will post 1.45 earnings per share for the current fiscal year.
Conagra Brands Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Thursday, July 30th. Conagra Brands's dividend payout ratio (DPR) is -17.50%.
About Conagra Brands
(
Free Report)
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.
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