Wilsey Asset Management Inc. Purchases 122,713 Shares of Conagra Brands $CAG

Key Points

• Wilsey Asset Management increased its Conagra Brands stake by 5.5%, purchasing 122,713 additional shares to own 2.37 million shares valued at approximately $31.9 million. Institutional investors collectively hold 83.75% of CAG stock.
• Analyst sentiment remains cautious: Conagra has an average “Reduce” rating and a consensus price target of $14.07, below its reported opening price of $15.09.
• Conagra reported quarterly EPS of $0.47, slightly above expectations, while revenue rose 3.6% year over year to $2.88 billion. The company declared a quarterly dividend of $0.175 per share, representing a 4.6% annualized yield.

Wilsey Asset Management Inc. raised its position in Conagra Brands (NYSE:CAG - Free Report) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,371,086 shares of the company's stock after buying an additional 122,713 shares during the period. Conagra Brands accounts for 4.7% of Wilsey Asset Management Inc.'s investment portfolio, making the stock its 15th biggest holding. Wilsey Asset Management Inc. owned 0.50% of Conagra Brands worth $31,915,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands in the 2nd quarter worth about $26,000. MUFG Securities EMEA plc purchased a new position in Conagra Brands in the second quarter valued at about $29,000. Harbour Investments Inc. boosted its stake in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company's stock valued at $27,000 after acquiring an additional 701 shares during the last quarter. Bell Investment Advisors Inc grew its position in shares of Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company's stock valued at $26,000 after acquiring an additional 1,029 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Conagra Brands during the 3rd quarter valued at approximately $33,000. 83.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group upped their price objective on Conagra Brands from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Evercore lowered their target price on Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. Weiss Ratings cut Conagra Brands from a "sell (d+)" rating to a "sell (d)" rating in a research report on Thursday, June 25th. Royal Bank Of Canada cut their price target on Conagra Brands from $16.00 to $14.00 and set a "sector perform" rating for the company in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Conagra Brands from $14.00 to $15.00 and gave the stock a "neutral" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Conagra Brands currently has an average rating of "Reduce" and a consensus target price of $14.07.

Conagra Brands Stock Performance

Conagra Brands stock opened at $15.09 on Friday. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $20.32. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. The firm has a market capitalization of $7.22 billion, a PE ratio of -3.77 and a beta of -0.03. The firm's 50 day simple moving average is $14.01 and its 200 day simple moving average is $15.49.

Conagra Brands (NYSE:CAG - Get Free Report) last announced 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. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, analysts expect that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 4.6%. The ex-dividend date is Thursday, July 30th. Conagra Brands's payout ratio is presently -17.50%.

About Conagra Brands

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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