CW Advisors LLC Purchases 18,136 Shares of Conagra Brands $CAG

Key Points

• CW Advisors LLC increased its stake in Conagra Brands (NYSE:CAG) by 101.6%, acquiring an additional 18,136 shares, bringing their total holdings to 35,995 shares worth approximately $960,000.
• Conagra Brands reported $0.56 EPS for the last quarter, missing the consensus estimate of $0.61, with revenues down 4.3% year-over-year, amounting to $2.78 billion.
• The company recently announced a quarterly dividend of $0.35 per share, resulting in a 7.3% dividend yield, to be paid on August 28th, 2023.

CW Advisors LLC lifted its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 101.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,995 shares of the company's stock after acquiring an additional 18,136 shares during the quarter. CW Advisors LLC's holdings in Conagra Brands were worth $960,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its holdings in Conagra Brands by 104.1% during the 4th quarter. Ameriprise Financial Inc. now owns 1,793,701 shares of the company's stock worth $49,776,000 after buying an additional 914,820 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Conagra Brands by 11.9% in the 1st quarter. Victory Capital Management Inc. now owns 842,094 shares of the company's stock valued at $22,459,000 after purchasing an additional 89,445 shares during the period. Impact Partnership Wealth LLC acquired a new position in shares of Conagra Brands in the 1st quarter valued at about $396,000. OneDigital Investment Advisors LLC lifted its stake in shares of Conagra Brands by 42.1% in the 1st quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company's stock valued at $289,000 after purchasing an additional 3,207 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Conagra Brands by 6.8% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,697 shares of the company's stock valued at $6,926,000 after purchasing an additional 16,546 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore ISI dropped their price objective on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research note on Friday, July 11th. Stifel Nicolaus dropped their price objective 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. Barclays dropped their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Royal Bank Of Canada dropped their price objective on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, July 11th. Finally, Wells Fargo & Company decreased their target price on Conagra Brands from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.17.

Conagra Brands Stock Up 1.9%

Conagra Brands stock traded up $0.36 during midday trading on Friday, reaching $19.15. The stock had a trading volume of 8,267,493 shares, compared to its average volume of 12,010,386. The company has a current ratio of 0.71, a quick ratio of 0.24 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $19.57 and a two-hundred day moving average price of $22.74. The company has a market capitalization of $9.16 billion, a P/E ratio of 8.01, a PEG ratio of 1.83 and a beta of 0.07. Conagra Brands has a 12 month low of $18.18 and a 12 month high of $33.24.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The business's revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Wednesday, July 30th were paid a $0.35 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $1.40 annualized dividend and a yield of 7.3%. Conagra Brands's dividend payout ratio is presently 58.58%.

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.