Silverleafe Capital Partners LLC Makes New $614,000 Investment in Conagra Brands $CAG

Key Points

• Silverleafe Capital Partners LLC has invested approximately $614,000 in Conagra Brands, acquiring 30,000 shares during the second quarter, indicating institutional interest in the company.
• Multiple research firms have lowered their price targets for Conagra Brands, with UBS Group bringing it down from $21.00 to $20.00, citing a "neutral" rating and highlighting a cautious outlook on the stock.
• Conagra Brands reported a $0.56 EPS for the latest quarter, falling short of analysts' expectations, alongside a quarterly revenue of $2.78 billion, which reflects a 4.3% decline compared to the same period last year.

Silverleafe Capital Partners LLC acquired a new stake in shares of Conagra Brands (NYSE:CAG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 30,000 shares of the company's stock, valued at approximately $614,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Conagra Brands by 11.9% during the 1st quarter. Victory Capital Management Inc. now owns 842,094 shares of the company's stock valued at $22,459,000 after buying an additional 89,445 shares in the last quarter. Impact Partnership Wealth LLC purchased a new stake in shares of Conagra Brands during the 1st quarter valued at $396,000. OneDigital Investment Advisors LLC raised its position in shares of Conagra Brands by 42.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company's stock valued at $289,000 after buying an additional 3,207 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Conagra Brands by 6.8% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,697 shares of the company's stock valued at $6,926,000 after buying an additional 16,546 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Conagra Brands by 269.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 207,417 shares of the company's stock valued at $5,532,000 after buying an additional 151,209 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CAG. UBS Group lowered their price objective on shares of Conagra Brands from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Stifel Nicolaus lowered their price objective on shares of Conagra Brands from $26.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, July 11th. Royal Bank Of Canada lowered their price objective on shares of Conagra Brands from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, July 11th. Morgan Stanley decreased their target price on shares of Conagra Brands from $22.00 to $20.00 and set an "equal weight" rating on the stock in a research report on Friday, July 11th. Finally, The Goldman Sachs Group cut shares of Conagra Brands from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $26.00 to $21.00 in a research report on Monday, June 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of "Hold" and a consensus price target of $22.17.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $19.18 on Monday. The stock has a market cap of $9.18 billion, a PE ratio of 8.03, a PEG ratio of 1.83 and a beta of 0.07. The company's fifty day moving average is $19.23 and its 200 day moving average is $22.32. Conagra Brands has a 52 week low of $18.18 and a 52 week high of $33.04. The company has a quick ratio of 0.24, a current ratio of 0.71 and a debt-to-equity ratio of 0.70.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.56 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.05). The business had revenue of $2.78 billion during the quarter, compared to analysts' expectations of $2.88 billion. Conagra Brands had a return on equity of 12.52% and a net margin of 9.92%.Conagra Brands's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.61 EPS. Research analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

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

About Conagra Brands

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.

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