Kingsview Wealth Management LLC Buys New Shares in Conagra Brands $CAG

Kingsview Wealth Management LLC purchased a new stake in shares of Conagra Brands (NYSE:CAG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 50,576 shares of the company’s stock, valued at approximately $681,000.

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in Conagra Brands by 4.2% in the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after buying an additional 954 shares during the last quarter. United Services Automobile Association purchased a new stake in Conagra Brands in the first quarter worth approximately $225,000. Empowered Funds LLC grew its position in Conagra Brands by 5.9% during the first quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock valued at $970,000 after acquiring an additional 2,038 shares during the last quarter. Woodline Partners LP grew its position in Conagra Brands by 40.7% during the first quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock valued at $1,075,000 after acquiring an additional 11,664 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in shares of Conagra Brands by 3.9% during the second quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock worth $1,033,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Down 0.1%

Shares of NYSE CAG opened at $16.08 on Monday. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The firm’s fifty day moving average is $14.79 and its 200 day moving average is $15.22. The company has a market cap of $7.70 billion, a price-to-earnings ratio of -4.02 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last announced its quarterly 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 business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities research analysts expect that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be paid a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands’s dividend payout ratio is -17.50%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein restated 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. Morgan Stanley decreased their target price on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Wells Fargo & Company lowered their price target on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. Zacks Research lowered shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Finally, Evercore reduced their price objective on 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $14.07.

Conagra Brands Company 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.