40,967 Shares in Conagra Brands $CAG Bought by United Capital Financial Advisors LLC

United Capital Financial Advisors LLC bought a new stake in shares of Conagra Brands (NYSE:CAG) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 40,967 shares of the company’s stock, valued at approximately $551,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Conagra Brands in the 2nd quarter worth approximately $1,071,275,000. Norges Bank purchased a new stake in Conagra Brands during the 4th quarter worth approximately $145,656,000. Two Sigma Investments LP increased its stake in Conagra Brands by 239.6% during the 3rd quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock valued at $152,837,000 after purchasing an additional 5,889,542 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Conagra Brands by 245.5% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after purchasing an additional 5,495,503 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of Conagra Brands by 216.2% in the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock worth $135,318,000 after buying an additional 5,100,424 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Zacks Research lowered Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. BNP Paribas Exane dropped their price target on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. JPMorgan Chase & Co. increased their price objective on Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Finally, Weiss Ratings downgraded Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Conagra Brands currently has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Price Performance

NYSE:CAG opened at $16.02 on Tuesday. The firm’s fifty day moving average is $14.85 and its two-hundred day moving average is $15.19. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of -4.00 and a beta of -0.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. Conagra Brands has a one year low of $12.53 and a one year 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 (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Research analysts expect that Conagra Brands will post 1.45 EPS for the current 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 $0.175 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.4%. Conagra Brands’s payout ratio is presently -17.50%.

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.