122,709 Shares in Conagra Brands $CAG Purchased by Sciencast Management LP

Key Points

• Sciencast Management LP has acquired a new stake in Conagra Brands, purchasing 122,709 shares valued at approximately $3.27 million during the first quarter.
• Conagra Brands recently reported quarterly earnings of $0.56 EPS, missing the consensus estimate of $0.61, and experienced a 4.3% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $0.35, equating to an annual yield of 7.2%, with a payout ratio of 58.58%.

Sciencast Management LP purchased a new position in Conagra Brands (NYSE:CAG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 122,709 shares of the company's stock, valued at approximately $3,273,000.

Other institutional investors have also recently made changes to their positions in the company. Alpine Bank Wealth Management bought a new position in shares of Conagra Brands in the first quarter worth $26,000. Capital Advisors Ltd. LLC increased its holdings in shares of Conagra Brands by 82.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,001 shares of the company's stock worth $27,000 after purchasing an additional 452 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Conagra Brands in the first quarter worth $27,000. Golden State Wealth Management LLC increased its holdings in shares of Conagra Brands by 235.2% in 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 period. Finally, Wayfinding Financial LLC bought a new position in shares of Conagra Brands in the first quarter worth $34,000. Institutional investors own 83.75% of the company's stock.

Conagra Brands Trading Down 1.3%

NYSE CAG traded down $0.26 during trading on Friday, hitting $19.18. 5,345,018 shares of the company's stock traded hands, compared to its average volume of 8,097,518. The stock has a fifty day moving average of $19.27 and a two-hundred day moving average of $22.41. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.71 and a quick ratio of 0.24. Conagra Brands has a 12-month low of $18.18 and a 12-month high of $33.04. The firm has a market cap of $9.18 billion, a P/E ratio of 8.03, a PEG ratio of 1.85 and a beta of 0.07.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its quarterly earnings results on Thursday, July 10th. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.88 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The business's quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts expect that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of 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. Stifel Nicolaus decreased their price target on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a report on Friday, July 11th. UBS Group reduced their target price on Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Evercore ISI reduced their target price on Conagra Brands from $26.00 to $24.00 and set an "in-line" rating on the stock in a research note on Friday, July 11th. Finally, Royal Bank Of Canada reduced their target price on Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, July 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average 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.