Twin Tree Management LP Invests $1.74 Million in Conagra Brands $CAG

Key Points

• Twin Tree Management LP has invested approximately $1.74 million in Conagra Brands by acquiring 85,118 shares during the second quarter.
• Conagra Brands announced a quarterly dividend of $0.35 per share, with a high annualized dividend yield of 7.7%, set to be paid on November 26th.
• The company's recent earnings report showed an EPS of $0.39, exceeding analysts' expectations of $0.33, despite a 5.8% decline in quarterly revenue compared to the previous year.

Twin Tree Management LP bought a new position in shares of Conagra Brands (NYSE:CAG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 85,118 shares of the company's stock, valued at approximately $1,742,000.

Several other large investors have also added to or reduced their stakes in the business. Ritholtz Wealth Management acquired a new position in Conagra Brands during the second quarter worth $205,000. TD Asset Management Inc boosted its holdings in Conagra Brands by 16.7% during the second quarter. TD Asset Management Inc now owns 258,887 shares of the company's stock worth $5,299,000 after purchasing an additional 37,009 shares during the last quarter. Edmp Inc. boosted its holdings in Conagra Brands by 1.1% during the second quarter. Edmp Inc. now owns 48,675 shares of the company's stock worth $996,000 after purchasing an additional 544 shares during the last quarter. Community Bank N.A. boosted its holdings in Conagra Brands by 14.6% during the second quarter. Community Bank N.A. now owns 74,137 shares of the company's stock worth $1,517,000 after purchasing an additional 9,466 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Conagra Brands by 16.9% during the second quarter. Sequoia Financial Advisors LLC now owns 17,728 shares of the company's stock worth $363,000 after purchasing an additional 2,561 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company's stock.

Conagra Brands Stock Performance

Shares of CAG stock opened at $18.25 on Friday. The stock has a market cap of $8.73 billion, a P/E ratio of 10.37, a P/E/G ratio of 1.74 and a beta of 0.03. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44. The company has a fifty day moving average price of $18.92 and a two-hundred day moving average price of $21.13. Conagra Brands has a one year low of $17.89 and a one year high of $30.47.

Conagra Brands (NYSE:CAG - Get Free Report) last posted its earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.06. The company had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.62 billion. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. Conagra Brands's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.53 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, equities analysts predict that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Thursday, October 30th. Conagra Brands's dividend payout ratio (DPR) is currently 79.55%.

Analysts Set New Price Targets

Several brokerages recently commented on CAG. Evercore ISI reduced their target price on shares of Conagra Brands from $24.00 to $23.00 and set an "in-line" rating for the company in a report on Wednesday, September 24th. Morgan Stanley increased their target price on shares of Conagra Brands from $20.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 24th. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the stock a "market perform" rating in a report on Friday, July 11th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $22.00 price target on shares of Conagra Brands in a research note on Thursday, October 2nd. Finally, UBS Group cut their price target on shares of Conagra Brands from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, September 24th. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $21.92.

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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