Systematic Financial Management LP Acquires 190,530 Shares of Conagra Brands $CAG

Key Points

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Systematic Financial Management LP raised its holdings in Conagra Brands (NYSE:CAG - Free Report) by 433.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 234,460 shares of the company's stock after buying an additional 190,530 shares during the period. Systematic Financial Management LP's holdings in Conagra Brands were worth $3,686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its position in Conagra Brands by 20.1% during the 1st quarter. Cetera Investment Advisers now owns 256,609 shares of the company's stock worth $4,034,000 after buying an additional 43,027 shares in the last quarter. Arvest Bank Trust Division grew its holdings in shares of Conagra Brands by 4.5% in the 1st quarter. Arvest Bank Trust Division now owns 33,738 shares of the company's stock valued at $530,000 after acquiring an additional 1,457 shares in the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Conagra Brands in the 1st quarter valued at about $7,590,000. Himension Capital Singapore PTE. LTD. acquired a new stake in shares of Conagra Brands in the first quarter valued at about $110,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Conagra Brands by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 264,199 shares of the company's stock valued at $4,153,000 after acquiring an additional 939 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Up 2.7%

Shares of CAG stock opened at $14.76 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. The firm's 50-day moving average is $13.69 and its 200-day moving average is $15.61. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -3.69 and a beta of -0.02. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.32.

Conagra Brands (NYSE:CAG - Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business posted $0.56 EPS. Conagra Brands's revenue was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Sell-side analysts predict that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands's dividend payout ratio (DPR) is presently -35.00%.

Analyst Upgrades and Downgrades

CAG has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on Conagra Brands from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. BNP Paribas Exane decreased their price target on Conagra Brands from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, May 21st. The Goldman Sachs Group lowered their price target on Conagra Brands from $17.00 to $15.00 and set a "sell" rating on the stock in a research report on Thursday, April 2nd. Barclays upped their price objective on Conagra Brands from $16.00 to $17.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. Finally, Morgan Stanley cut their price objective on Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating for the company in a report on Friday, June 5th. One investment 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's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target 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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