Headlands Technologies LLC Grows Stock Holdings in Conagra Brands (NYSE:CAG)

Key Points

• Headlands Technologies LLC increased its stake in Conagra Brands by 320.9%, acquiring a total of 19,972 shares worth approximately $533,000.
• Conagra Brands reported a missed earnings estimate of $0.56 EPS for the last quarter, falling short of the consensus forecast of $0.61 EPS.
• The company announced a quarterly dividend of $0.35, which represents an annualized dividend yield of 7.3% and will be paid on August 28th.

Headlands Technologies LLC lifted its holdings in shares of Conagra Brands (NYSE:CAG - Free Report) by 320.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,972 shares of the company's stock after acquiring an additional 15,227 shares during the quarter. Headlands Technologies LLC's holdings in Conagra Brands were worth $533,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. 1834 Investment Advisors Co. raised its holdings in Conagra Brands by 2.7% in the 1st quarter. 1834 Investment Advisors Co. now owns 138,453 shares of the company's stock valued at $3,693,000 after acquiring an additional 3,621 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Conagra Brands by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,378,340 shares of the company's stock valued at $90,100,000 after purchasing an additional 138,756 shares during the last quarter. ASR Vermogensbeheer N.V. bought a new position in shares of Conagra Brands in the 1st quarter valued at $1,856,000. Vanguard Group Inc. increased its stake in shares of Conagra Brands by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company's stock valued at $1,610,971,000 after purchasing an additional 1,604,893 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its stake in shares of Conagra Brands by 2.1% in the 1st quarter. iA Global Asset Management Inc. now owns 42,975 shares of the company's stock valued at $1,146,000 after purchasing an additional 894 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Conagra Brands Trading Up 0.4%

Shares of NYSE CAG traded up $0.08 during trading on Wednesday, reaching $19.58. The company had a trading volume of 3,378,396 shares, compared to its average volume of 7,672,675. Conagra Brands has a 12 month low of $18.18 and a 12 month high of $33.24. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70. The company's fifty day moving average price is $20.29 and its 200-day moving average price is $23.31. The stock has a market cap of $9.37 billion, a P/E ratio of 8.19, a PEG ratio of 1.84 and a beta of 0.08.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). The firm had revenue of $2,781,800 billion for the quarter, compared to analyst estimates of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%. The firm's quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. As a group, research analysts expect that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date of this dividend is Wednesday, July 30th. Conagra Brands's dividend payout ratio (DPR) is presently 58.58%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CAG shares. Sanford C. Bernstein set a $21.00 price target on Conagra Brands and gave the company a "market perform" rating in a research note on Friday, July 11th. The Goldman Sachs Group lowered Conagra Brands from a "neutral" rating to a "sell" rating and reduced their price objective for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. JPMorgan Chase & Co. reduced their price objective on Conagra Brands from $26.00 to $25.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $27.00 to $20.00 in a research report on Thursday, June 12th. Finally, Stifel Nicolaus reduced their price objective on Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $22.58.

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.