Quantbot Technologies LP Takes $580,000 Position in Conagra Brands $CAG

Key Points

• Quantbot Technologies LP has invested approximately $580,000 in Conagra Brands by acquiring 21,757 shares during the first quarter.
• Conagra Brands reported a quarterly earnings miss, with $0.56 earnings per share, falling short of estimates by $0.05 and experiencing a 4.3% revenue decline compared to the previous year.
• The company announced a quarterly dividend of $0.35 per share, reflecting a 7.3% yield with an upcoming payout date on August 28th.

Quantbot Technologies LP purchased a new position in shares of Conagra Brands (NYSE:CAG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 21,757 shares of the company's stock, valued at approximately $580,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in Conagra Brands in the 1st quarter valued at about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Conagra Brands in the 1st quarter valued at about $27,000. Capital Advisors Ltd. LLC increased its position in Conagra Brands by 82.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock valued at $27,000 after acquiring an additional 452 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Conagra Brands by 235.2% during the first quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company's stock worth $28,000 after purchasing an additional 741 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new stake in shares of Conagra Brands during the first quarter worth $34,000. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Performance

CAG traded up $0.36 during trading on Friday, reaching $19.15. The company's stock had a trading volume of 8,267,493 shares, compared to its average volume of 12,010,386. Conagra Brands has a 52-week low of $18.18 and a 52-week high of $33.24. The company's fifty day moving average price is $19.57 and its 200-day moving average price is $22.74. The company has a market capitalization of $9.16 billion, a price-to-earnings ratio of 8.01, a price-to-earnings-growth ratio of 1.83 and a beta of 0.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.24 and a current ratio of 0.71.

Conagra Brands (NYSE:CAG - Get Free Report) last announced its quarterly earnings data 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). Conagra Brands had a net margin of 9.92% and a return on equity of 12.52%. The business had revenue of $2.78 billion during the quarter, compared to analysts' expectations of $2.88 billion. During the same period in the prior year, the firm posted $0.61 EPS. Conagra Brands's revenue for the quarter was down 4.3% compared to the same quarter last year. On average, equities analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Wednesday, July 30th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.3%. The ex-dividend date was Wednesday, July 30th. Conagra Brands's dividend payout ratio (DPR) is presently 58.58%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein set a $21.00 price target on Conagra Brands and gave the stock a "market perform" rating in a report on Friday, July 11th. Royal Bank Of Canada decreased their price target on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday, July 11th. The Goldman Sachs Group downgraded Conagra Brands from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $26.00 to $21.00 in a report on Monday, June 9th. JPMorgan Chase & Co. started coverage on Conagra Brands in a report on Wednesday, August 20th. They set a "neutral" rating and a $20.00 price target for the company. Finally, Bank of America lowered Conagra Brands from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $27.00 to $20.00 in a report on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Conagra Brands currently has a consensus rating of "Hold" and an average target price of $22.17.

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.