Sanctuary Advisors LLC Buys 65,982 Shares of Conagra Brands $CAG

Key Points

• Sanctuary Advisors increased its Conagra Brands position by 236.7% in the second quarter, buying 65,982 shares to hold 93,857 shares worth approximately $1.26 million. Institutional investors collectively own 83.75% of CAG.
• Analyst sentiment remains cautious: Conagra has an average “Reduce” rating, with one Buy, eleven Hold, and six Sell ratings, while the average price target is $14.07.
• Conagra reported quarterly EPS of $0.47, slightly above estimates, while revenue rose 3.6% year over year to $2.88 billion. The company declared a quarterly dividend of $0.175, representing a $0.70 annual payout and a 4.4% yield.

Sanctuary Advisors LLC grew its position in Conagra Brands (NYSE:CAG - Free Report) by 236.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,857 shares of the company's stock after purchasing an additional 65,982 shares during the quarter. Sanctuary Advisors LLC's holdings in Conagra Brands were worth $1,263,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CAG. CYBER HORNET ETFs LLC acquired a new position in shares of Conagra Brands during the 2nd quarter worth approximately $26,000. MUFG Securities EMEA plc acquired a new stake in shares of Conagra Brands in the second quarter valued at approximately $29,000. Harbour Investments Inc. raised its position in shares of Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock valued at $27,000 after buying an additional 701 shares in the last quarter. Bell Investment Advisors Inc boosted its stake in shares of Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock valued at $26,000 after buying an additional 1,029 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Conagra Brands in the third quarter valued at approximately $33,000. Institutional investors own 83.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CAG shares. Jefferies Financial Group dropped their price target on Conagra Brands from $15.00 to $13.00 and set a "hold" rating for the company in a research note on Wednesday, May 27th. BNP Paribas Exane reduced their price objective 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. Zacks Research downgraded shares of Conagra Brands from a "hold" rating to a "strong sell" rating in a research note on Monday, May 11th. Morgan Stanley decreased their target price on shares of Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, June 5th. Finally, Weiss Ratings cut shares of Conagra Brands from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $14.07.

Conagra Brands Price Performance

Conagra Brands stock opened at $16.00 on Friday. The stock has a 50-day moving average price of $14.73 and a two-hundred day moving average price of $15.24. Conagra Brands has a 12 month low of $12.53 and a 12 month high of $20.32. The company has a market capitalization of $7.66 billion, a PE ratio of -4.00 and a beta of -0.03. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02.

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

Conagra Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.4%. The ex-dividend date is Thursday, July 30th. Conagra Brands's dividend payout ratio is -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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