GAMMA Investing LLC Has $630,000 Stake in Conagra Brands $CAG

Key Points

• GAMMA Investing LLC significantly increased its stake in Conagra Brands by 94.3% during Q2, now holding 30,800 shares worth $630,000.
• Conagra Brands has received multiple downgrades from analysts, with target prices ranging from $19.00 to $21.00, reflecting a cautious outlook on the stock.
• The company recently declared a quarterly dividend of $0.35 per share, yielding approximately 7.6%, and reports a payout ratio of 58.58%.

GAMMA Investing LLC raised its position in Conagra Brands (NYSE:CAG - Free Report) by 94.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,800 shares of the company's stock after purchasing an additional 14,945 shares during the quarter. GAMMA Investing LLC's holdings in Conagra Brands were worth $630,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Conagra Brands by 11.9% in the first quarter. Victory Capital Management Inc. now owns 842,094 shares of the company's stock valued at $22,459,000 after acquiring an additional 89,445 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in shares of Conagra Brands in the first quarter valued at about $396,000. OneDigital Investment Advisors LLC increased its position in shares of Conagra Brands by 42.1% in the first quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company's stock valued at $289,000 after acquiring an additional 3,207 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Conagra Brands by 6.8% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,697 shares of the company's stock valued at $6,926,000 after acquiring an additional 16,546 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Conagra Brands by 269.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company's stock valued at $5,532,000 after acquiring an additional 151,209 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

CAG has been the topic of a number of recent research reports. Bank of America downgraded Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $27.00 to $20.00 in a research report on Thursday, June 12th. UBS Group lowered their target price on Conagra Brands from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday. The Goldman Sachs Group downgraded Conagra Brands from a "neutral" rating to a "sell" rating and lowered their target price for the company from $26.00 to $21.00 in a research report on Monday, June 9th. Evercore ISI lowered their price target on Conagra Brands from $24.00 to $23.00 and set an "in-line" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on Conagra Brands from $20.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.08.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $18.53 on Thursday. The business's 50 day moving average price is $19.06 and its two-hundred day moving average price is $21.97. The company has a market cap of $8.87 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 1.74 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 twelve month low of $18.12 and a twelve month high of $32.90.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its quarterly earnings data 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 return on equity of 12.52% and a net margin of 9.92%.The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The company's revenue was down 4.3% on a year-over-year basis. On average, analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Wednesday, July 30th. Conagra Brands's payout ratio is currently 58.58%.

About Conagra Brands

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.

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