Deutsche Bank AG Buys Shares of 1,334,880 Conagra Brands $CAG

Deutsche Bank AG purchased a new stake in Conagra Brands (NYSE:CAG - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,334,880 shares of the company's stock, valued at approximately $17,967,000. Deutsche Bank AG owned about 0.28% of Conagra Brands as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. CYBER HORNET ETFs LLC purchased a new stake in Conagra Brands in the 2nd quarter valued at about $26,000. MUFG Securities EMEA plc purchased a new position in Conagra Brands during the second quarter worth about $29,000. Harbour Investments Inc. increased its position 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 valued at $27,000 after acquiring an additional 701 shares during the last quarter. Bell Investment Advisors Inc increased its position in shares of Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock valued at $26,000 after acquiring an additional 1,029 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Conagra Brands in the 3rd quarter valued at approximately $33,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 1.1%

CAG stock opened at $16.45 on Friday. The company's 50 day moving average price is $14.50 and its 200 day moving average price is $15.35. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. Conagra Brands has a fifty-two week low of $12.53 and a fifty-two week high of $20.32. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of -4.11 and a beta of -0.03.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The firm's quarterly 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, equities research analysts anticipate that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Thursday, July 30th. Conagra Brands's dividend payout ratio (DPR) is presently -17.50%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Conagra Brands from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. Royal Bank Of Canada dropped their target price on shares of Conagra Brands from $16.00 to $14.00 and set a "sector perform" rating for the company in a report on Thursday, July 16th. Jefferies Financial Group cut their target price on Conagra Brands from $15.00 to $13.00 and set a "hold" rating on the stock in a research report on Wednesday, May 27th. Evercore lowered their price target on Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. Finally, Sanford C. Bernstein restated an "underperform" rating and set a $12.00 price target (down from $16.00) on shares of Conagra Brands in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $14.07.

About Conagra Brands

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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