West Tower Group LLC Makes New $348,000 Investment in Conagra Brands $CAG

Key Points

• West Tower Group LLC has made a new investment of $348,000 in Conagra Brands, acquiring 17,000 shares of the company's stock during the second quarter.
• Conagra Brands reported earnings of $0.39 per share, surpassing estimates, with a revenue of $2.63 billion for the quarter.
• The company announced a quarterly dividend of $0.35 per share, scheduled for payment on November 26th, providing a 7.5% dividend yield for shareholders.

West Tower Group LLC acquired a new stake in shares of Conagra Brands (NYSE:CAG - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,000 shares of the company's stock, valued at approximately $348,000.

Several other hedge funds have also recently made changes to their positions in CAG. Wealth Enhancement Advisory Services LLC grew its stake in 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 purchasing an additional 151,209 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in Conagra Brands by 1.9% in the 1st quarter. State of Alaska Department of Revenue now owns 79,914 shares of the company's stock worth $2,131,000 after buying an additional 1,500 shares during the period. Stonegate Investment Group LLC raised its position in Conagra Brands by 19.7% during the 1st quarter. Stonegate Investment Group LLC now owns 37,427 shares of the company's stock worth $998,000 after buying an additional 6,165 shares during the last quarter. Nilsine Partners LLC acquired a new stake in Conagra Brands during the 1st quarter valued at approximately $204,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Conagra Brands in the 1st quarter valued at $67,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CAG has been the subject of several recent research reports. Royal Bank Of Canada reissued a "sector perform" rating and set a $22.00 target price on shares of Conagra Brands in a report on Thursday, October 2nd. Stifel Nicolaus decreased their price objective on Conagra Brands from $26.00 to $21.00 and set a "hold" rating for the company in a report on Friday, July 11th. Wells Fargo & Company raised their target price on Conagra Brands from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Thursday, October 2nd. Morgan Stanley lifted their price target on Conagra Brands from $20.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 24th. Finally, Zacks Research upgraded Conagra Brands from a "strong sell" rating to a "hold" rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $21.92.

Conagra Brands Stock Performance

Shares of CAG stock opened at $18.57 on Monday. The company has a market capitalization of $8.88 billion, a P/E ratio of 10.55, a P/E/G ratio of 1.76 and a beta of 0.03. Conagra Brands has a 12-month low of $17.89 and a 12-month high of $30.38. The business's 50 day moving average is $18.90 and its two-hundred day moving average is $21.00. The company has a current ratio of 1.06, a quick ratio of 0.44 and a debt-to-equity ratio of 0.81.

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

Conagra Brands Dividend Announcement

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. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.5%. Conagra Brands's payout ratio is currently 79.55%.

Conagra Brands 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.

Want to see what other hedge funds are holding CAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conagra Brands (NYSE:CAG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.