Eisler Capital Management Ltd. Takes Position in Conagra Brands $CAG

Key Points

• Eisler Capital Management Ltd. has invested $406,000 in Conagra Brands, buying 15,236 shares in the first quarter.
• Conagra Brands reported a decline in quarterly revenue, with earnings per share of $0.56, missing estimates by $0.05.
• The company recently announced a quarterly dividend of $0.35, yielding 7.4%, with a dividend payout ratio of 58.58%.

Eisler Capital Management Ltd. bought a new stake in shares of Conagra Brands (NYSE:CAG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,236 shares of the company's stock, valued at approximately $406,000.

Several other institutional investors have also added to or reduced their stakes in the business. Alpine Bank Wealth Management purchased a new position in shares of Conagra Brands during the 1st quarter worth $26,000. Capital Advisors Ltd. LLC raised its position in shares of Conagra Brands by 82.3% during the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after purchasing an additional 452 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new position in Conagra Brands in the 1st quarter worth approximately $27,000. Golden State Wealth Management LLC lifted its stake in Conagra Brands by 235.2% in the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after purchasing an additional 741 shares in the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Conagra Brands during the 1st quarter valued at approximately $34,000. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price target on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. The Goldman Sachs Group downgraded shares of Conagra Brands from a "neutral" rating to a "sell" rating and lowered their price target for the company from $26.00 to $21.00 in a report on Monday, June 9th. Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Barclays decreased their price objective on Conagra Brands from $29.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 12th. Finally, Stifel Nicolaus lowered their price objective on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $22.17.

Conagra Brands Trading Down 1.9%

CAG traded down $0.37 on Tuesday, reaching $18.77. 5,182,825 shares of the company traded hands, compared to its average volume of 8,060,306. The company has a market cap of $8.98 billion, a P/E ratio of 7.84, a price-to-earnings-growth ratio of 1.83 and a beta of 0.07. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. Conagra Brands has a one year low of $18.18 and a one year high of $33.24. The firm has a fifty day simple moving average of $19.52 and a two-hundred day simple moving average of $22.70.

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

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.5%. Conagra Brands's dividend payout ratio is presently 58.58%.

Conagra Brands Company 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.