Landscape Capital Management L.L.C. Invests $7.50 Million in Conagra Brands $CAG

Key Points

• Landscape Capital Management acquired 557,243 Conagra Brands shares worth approximately $7.5 million, representing 0.12% of the company and 0.5% of the fund’s portfolio. Institutional investors collectively own 83.75% of Conagra’s stock.
• Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $14.07; one analyst rates the stock Buy, compared with 11 Holds and six Sells.
• Conagra reported quarterly EPS of $0.47, slightly above expectations, while revenue rose 3.6% year over year to $2.88 billion. The company declared a quarterly dividend of $0.175 per share, equal to a $0.70 annual payout and a 4.3% yield.

Landscape Capital Management L.L.C. purchased a new stake in Conagra Brands (NYSE:CAG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 557,243 shares of the company's stock, valued at approximately $7,500,000. Conagra Brands makes up 0.5% of Landscape Capital Management L.L.C.'s investment portfolio, making the stock its 26th largest holding. Landscape Capital Management L.L.C. owned about 0.12% of Conagra Brands as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Bell Investment Advisors Inc raised its stake in shares of Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock worth $26,000 after buying an additional 1,029 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in Conagra Brands in the 2nd quarter valued at $26,000. Harbour Investments Inc. increased its holdings in Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock worth $27,000 after acquiring an additional 701 shares in the last quarter. MUFG Securities EMEA plc purchased a new stake in Conagra Brands in the 2nd quarter worth $29,000. Finally, Rakuten Securities Inc. raised its position in Conagra Brands by 339.7% during the second quarter. Rakuten Securities Inc. now owns 2,273 shares of the company's stock worth $31,000 after acquiring an additional 1,756 shares during the period. Institutional investors and hedge funds own 83.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CAG shares. BNP Paribas Exane decreased their price target on shares of Conagra Brands from $16.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, May 21st. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $14.00 to $13.00 and set an "underweight" rating on the stock in a research report on Monday, May 18th. Barclays upped their price objective on Conagra Brands from $16.00 to $17.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Morgan Stanley cut their price objective on Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating for the company in a research report on Friday, June 5th. Finally, Evercore cut their target price on Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $14.07.

Conagra Brands Stock Performance

NYSE:CAG opened at $16.45 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. Conagra Brands has a 12 month low of $12.53 and a 12 month high of $20.32. The firm has a market capitalization of $7.87 billion, a PE ratio of -4.11 and a beta of -0.03. The business's fifty day moving average price is $14.50 and its 200 day moving average price is $15.35.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $2.88 billion during the quarter, compared to analysts' expectations of $2.89 billion. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, sell-side analysts anticipate that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

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

Conagra Brands Profile

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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