NewEdge Advisors LLC Has $1.65 Million Position in Conagra Brands $CAG

NewEdge Advisors LLC reduced its stake in shares of Conagra Brands (NYSE:CAG) by 36.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 104,615 shares of the company’s stock after selling 60,049 shares during the period. NewEdge Advisors LLC’s holdings in Conagra Brands were worth $1,645,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CAG. Norges Bank acquired a new stake in Conagra Brands during the fourth quarter valued at $145,656,000. Two Sigma Investments LP increased its position in Conagra Brands by 239.6% in the 3rd quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock worth $152,837,000 after purchasing an additional 5,889,542 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Conagra Brands by 245.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock worth $141,611,000 after purchasing an additional 5,495,503 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Conagra Brands by 216.2% during the 3rd quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock worth $135,318,000 after purchasing an additional 5,100,424 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of Conagra Brands by 241.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock worth $108,313,000 after purchasing an additional 4,185,486 shares in the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

CAG opened at $15.63 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 company has a market cap of $7.48 billion, a PE ratio of -3.91 and a beta of -0.03. The stock has a 50-day moving average of $14.24 and a 200-day moving average of $15.42. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business earned $0.56 EPS. The firm’s revenue 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. As a group, equities research analysts forecast that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a yield of 4.5%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio (DPR) is -17.50%.

Analyst Ratings Changes

Several equities research analysts recently commented on CAG shares. UBS Group boosted their price target on Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Monday, May 18th. Barclays lifted their target price on shares of Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, June 18th. Finally, Evercore dropped their price target on shares of Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands 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.