Corient Private Wealth LP Takes $18.86 Million Position in Conagra Brands $CAG

Corient Private Wealth LP purchased a new position in Conagra Brands (NYSE:CAG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,401,621 shares of the company’s stock, valued at approximately $18,865,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Conagra Brands by 24.8% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company’s stock worth $11,442,000 after acquiring an additional 131,287 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Conagra Brands by 23.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company’s stock valued at $140,659,000 after purchasing an additional 1,554,725 shares in the last quarter. Leonteq Securities AG purchased a new stake in shares of Conagra Brands during the 4th quarter worth $2,415,000. Marathon Trading Investment Management LLC acquired a new position in shares of Conagra Brands during the fourth quarter worth $1,367,000. Finally, Hsbc Holdings PLC increased its holdings in Conagra Brands by 25.0% in the fourth quarter. Hsbc Holdings PLC now owns 785,989 shares of the company’s stock valued at $13,634,000 after buying an additional 157,423 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CAG. Barclays raised their price target on Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Morgan Stanley dropped their price objective 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. Evercore cut their target price on Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. BNP Paribas Exane decreased their target price on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. upped their price target on Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Stock Up 0.4%

CAG opened at $16.08 on Friday. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The business has a 50 day moving average price of $14.79 and a two-hundred day moving average price of $15.24. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. The company has a market cap of $7.70 billion, a PE ratio of -4.02 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The company’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, research analysts anticipate that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio (DPR) is -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.