Leonteq Securities AG Makes New $2.42 Million Investment in Conagra Brands $CAG

Key Points

• Leonteq Securities AG opened a new position in Conagra Brands during the fourth quarter, buying 139,540 shares valued at about $2.42 million.
• Conagra reported mixed quarterly results: EPS of $0.39 missed expectations by a penny, while revenue of $2.79 billion came in slightly above estimates but was down 1.9% year over year.
• The company also announced a quarterly dividend of $0.35 per share, implying an annualized yield of about 10.2%, even as analysts remain cautious with a consensus rating of “Reduce” and an average target price of $15.73.

Leonteq Securities AG purchased a new position in shares of Conagra Brands (NYSE:CAG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 139,540 shares of the company's stock, valued at approximately $2,415,000.

Other institutional investors have also recently bought and sold shares of the company. CYBER HORNET ETFs LLC acquired a new position in Conagra Brands during the second quarter worth approximately $26,000. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands during the second quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Conagra Brands during the third quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Conagra Brands by 100.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,000 shares of the company's stock worth $35,000 after acquiring an additional 1,000 shares during the period. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Conagra Brands during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $13.78 on Thursday. The stock has a market capitalization of $6.59 billion and a PE ratio of -137.76. Conagra Brands has a fifty-two week low of $13.42 and a fifty-two week high of $23.09. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.90 and a quick ratio of 0.30. The business has a fifty day moving average price of $14.96 and a two-hundred day moving average price of $16.82.

Conagra Brands (NYSE:CAG - Get Free Report) last released its earnings results on Wednesday, April 1st. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Conagra Brands had a positive return on equity of 10.15% and a negative net margin of 0.39%.The business's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share. As a group, equities analysts predict that Conagra Brands will post 1.7 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Thursday, April 30th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 10.2%. The ex-dividend date of this dividend is Thursday, April 30th. Conagra Brands's dividend payout ratio is -1,400.00%.

Insider Buying and Selling at Conagra Brands

In related news, Director Richard H. Lenny bought 25,000 shares of Conagra Brands stock in a transaction dated Tuesday, April 14th. The shares were bought at an average cost of $14.34 per share, with a total value of $358,500.00. Following the acquisition, the director owned 229,340 shares in the company, valued at $3,288,735.60. This trade represents a 12.23% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John J. Mulligan bought 17,500 shares of Conagra Brands stock in a transaction dated Tuesday, April 14th. The shares were bought at an average cost of $14.31 per share, for a total transaction of $250,425.00. Following the completion of the acquisition, the director owned 20,728 shares in the company, valued at $296,617.68. This represents a 542.13% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group reduced their price objective on Conagra Brands from $16.00 to $15.00 and set a "hold" rating for the company in a report on Monday, March 30th. Sanford C. Bernstein reduced their price objective on Conagra Brands from $18.00 to $16.00 and set a "market perform" rating for the company in a report on Thursday, April 2nd. BNP Paribas Exane cut Conagra Brands from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $19.00 to $16.00 in a report on Thursday, April 9th. Evercore reduced their price objective on Conagra Brands from $19.00 to $18.00 in a report on Thursday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Conagra Brands from $18.00 to $14.00 and set a "hold" rating for the company in a report on Monday, March 30th. One investment analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average target price of $15.73.

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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