Corient Private Wealth LP Purchases 1,176,752 Shares of Conagra Brands $CAG

Key Points

• Corient Private Wealth LP increased its Conagra Brands stake by 655.5%, purchasing 1,176,752 additional shares to own 1.36 million shares valued at approximately $18.3 million. Institutional investors collectively hold 83.75% of CAG’s outstanding stock.
• Analyst sentiment remains cautious: Conagra has one Buy, eleven Hold and six Sell ratings, producing a consensus “Reduce” rating and an average price target of $14.03.
• Conagra reported quarterly EPS of $0.47, narrowly beating estimates, while revenue rose 3.6% year over year to $2.88 billion. The company’s quarterly dividend is $0.175 per share, equivalent to a 4.7% annualized yield.

Corient Private Wealth LP grew its stake in shares of Conagra Brands (NYSE:CAG - Free Report) by 655.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,356,285 shares of the company's stock after acquiring an additional 1,176,752 shares during the quarter. Corient Private Wealth LP owned about 0.28% of Conagra Brands worth $18,256,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CAG. Harbour Investments Inc. raised its holdings in shares of Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock worth $27,000 after purchasing an additional 701 shares during the last quarter. Bell Investment Advisors Inc grew its position in shares of Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock valued at $26,000 after purchasing an additional 1,029 shares during the period. Rakuten Securities Inc. increased its stake in Conagra Brands by 339.7% during the 2nd quarter. Rakuten Securities Inc. now owns 2,273 shares of the company's stock worth $31,000 after buying an additional 1,756 shares in the last quarter. Ascentis Independent Advisors purchased a new stake in shares of Conagra Brands during the first quarter worth approximately $38,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Conagra Brands in the second quarter valued at about $41,000. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

CAG has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Conagra Brands from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Barclays raised their price target 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. UBS Group upped their price target on Conagra Brands from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. BNP Paribas Exane dropped their price target on shares of Conagra Brands from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, May 21st. Finally, 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 report on Friday, June 5th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, Conagra Brands currently has an average rating of "Reduce" and a consensus target price of $14.03.

Conagra Brands Price Performance

CAG stock opened at $14.79 on Tuesday. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $7.08 billion, a P/E ratio of -3.70 and a beta of -0.01. The business has a 50 day simple moving average of $15.14 and a 200-day simple moving average of $14.92.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. Conagra Brands's quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, equities analysts anticipate that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th were issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date was Thursday, July 30th. Conagra Brands's dividend payout ratio (DPR) is currently -17.50%.

Conagra Brands Profile

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded and private-label food products primarily in North America. Its portfolio spans frozen meals and sides, snacks, shelf-stable foods, condiments, refrigerated foods and cooking products, serving retail grocery, foodservice and other distribution channels.

Its well-known brands include Birds Eye, Healthy Choice, Banquet, Marie Callender's, Duncan Hines, Reddi-wip, Slim Jim, Vlasic, Hunt's and PAM.

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