Public Employees Retirement System of Ohio Acquires New Position in Conagra Brands $CAG

Key Points

• Public Employees Retirement System of Ohio acquired 147,544 Conagra Brands shares during the second quarter, valued at approximately $1.99 million. Institutional investors collectively own 83.75% of CAG’s outstanding shares.
• Conagra reported quarterly EPS of $0.47, narrowly beating estimates, while revenue increased 3.6% year over year to $2.88 billion. The company set fiscal 2027 EPS guidance at $1.40–$1.50.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $14.07. Conagra’s quarterly dividend of $0.175 represents a 4.5% annualized yield.

Public Employees Retirement System of Ohio bought a new position in shares of Conagra Brands (NYSE:CAG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 147,544 shares of the company's stock, valued at approximately $1,986,000.

A number of other hedge funds also recently added to or reduced their stakes in CAG. WealthPlan Investment Management LLC boosted its stake in shares of Conagra Brands by 5.3% during the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company's stock worth $189,000 after acquiring an additional 548 shares in the last quarter. All Terrain Financial Advisors LLC increased its stake in Conagra Brands by 0.3% in the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company's stock valued at $3,063,000 after purchasing an additional 609 shares in the last quarter. Harbour Investments Inc. raised its holdings in Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock worth $27,000 after purchasing an additional 701 shares during the last quarter. Tema ETFs LLC boosted its position in Conagra Brands by 9.3% during the second quarter. Tema ETFs LLC now owns 8,546 shares of the company's stock worth $115,000 after purchasing an additional 725 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its position in Conagra Brands by 3.3% during the second quarter. EP Wealth Advisors LLC now owns 23,984 shares of the company's stock worth $491,000 after purchasing an additional 772 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

CAG opened at $15.48 on Monday. The firm has a market cap of $7.41 billion, a P/E ratio of -3.87 and a beta of -0.01. The business's fifty day simple moving average is $15.02 and its 200 day simple moving average is $15.08. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02.

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

Conagra Brands Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Thursday, July 30th. Conagra Brands's payout ratio is presently -17.50%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CAG shares. JPMorgan Chase & Co. raised their price target on Conagra Brands from $14.00 to $15.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Weiss Ratings lowered shares of Conagra Brands from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, June 25th. Wells Fargo & Company lowered their price objective on shares of Conagra Brands from $14.00 to $13.00 and set an "underweight" rating on the stock in a research note on Monday, May 18th. Barclays lifted their target price on shares of Conagra Brands from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Finally, UBS Group upped their price target on shares of Conagra Brands from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus target price of $14.07.

Conagra Brands Company 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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