Two Sigma Securities LLC raised its position in shares of Conagra Brands (NYSE:CAG - Free Report) by 268.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,138 shares of the company's stock after purchasing an additional 71,476 shares during the quarter. Two Sigma Securities LLC's holdings in Conagra Brands were worth $1,321,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WealthPlan Investment Management LLC increased its position in shares of Conagra Brands by 5.3% during the fourth quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company's stock valued at $189,000 after acquiring an additional 548 shares in the last quarter. All Terrain Financial Advisors LLC boosted its stake in Conagra Brands by 0.3% during the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company's stock valued at $3,063,000 after purchasing an additional 609 shares during the last quarter. Harbour Investments Inc. boosted its stake in Conagra Brands by 80.4% during the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock valued at $27,000 after purchasing an additional 701 shares during the last quarter. Tema ETFs LLC increased its holdings in shares of Conagra Brands by 9.3% in the 2nd quarter. Tema ETFs LLC now owns 8,546 shares of the company's stock worth $115,000 after purchasing an additional 725 shares in the last quarter. Finally, EP Wealth Advisors LLC increased its holdings in shares of Conagra Brands by 3.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 23,984 shares of the company's stock worth $491,000 after purchasing an additional 772 shares in the last quarter. Institutional investors own 83.75% of the company's stock.
Conagra Brands Trading Down 0.4%
Shares of NYSE:CAG opened at $16.02 on Tuesday. The stock has a market capitalization of $7.67 billion, a price-to-earnings ratio of -4.00 and a beta of -0.03. 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 stock's 50-day simple moving average is $14.85 and its two-hundred day simple moving average is $15.19. 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 released its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 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 firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The business's revenue for the quarter 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. The ex-dividend date is Thursday, July 30th. This represents a $0.70 annualized dividend and a yield of 4.4%. Conagra Brands's dividend payout ratio (DPR) is presently -17.50%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Morgan Stanley lowered their price target on Conagra Brands from $15.00 to $13.00 and set an "equal weight" rating on the stock in a report on Friday, June 5th. Sanford C. Bernstein reiterated an "underperform" rating and issued a $12.00 price objective (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. Barclays boosted their target price on Conagra Brands from $16.00 to $17.00 and gave the stock an "overweight" rating in a research report on Friday, July 17th. Royal Bank Of Canada dropped their price target on shares of Conagra Brands from $16.00 to $14.00 and set a "sector perform" rating on the stock in a report on Thursday, July 16th. Finally, BNP Paribas Exane reduced their price target on shares of Conagra Brands from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $14.07.
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About Conagra Brands
(
Free Report)
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.
See Also
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