Rhumbline Advisers Increases Stake in Conagra Brands $CAG

Rhumbline Advisers raised its position in shares of Conagra Brands (NYSE:CAG) by 4.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,116,782 shares of the company’s stock after purchasing an additional 51,689 shares during the quarter. Rhumbline Advisers’ holdings in Conagra Brands were worth $20,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CAG. DekaBank Deutsche Girozentrale increased its position in shares of Conagra Brands by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 172,140 shares of the company’s stock valued at $3,483,000 after acquiring an additional 585 shares in the last quarter. Sutton Place Investors LLC increased its holdings in shares of Conagra Brands by 1.9% in the 3rd quarter. Sutton Place Investors LLC now owns 31,196 shares of the company’s stock worth $571,000 after purchasing an additional 585 shares in the last quarter. Horrell Capital Management Inc. raised its stake in shares of Conagra Brands by 2.2% in the second quarter. Horrell Capital Management Inc. now owns 27,427 shares of the company’s stock worth $561,000 after purchasing an additional 597 shares during the last quarter. Excalibur Management Corp lifted its holdings in shares of Conagra Brands by 4.3% during the second quarter. Excalibur Management Corp now owns 14,717 shares of the company’s stock valued at $301,000 after purchasing an additional 600 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Conagra Brands by 5.8% during the third quarter. Farther Finance Advisors LLC now owns 12,036 shares of the company’s stock valued at $220,000 after buying an additional 661 shares during the last quarter. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Down 0.8%

Shares of Conagra Brands stock opened at $19.78 on Tuesday. Conagra Brands has a 1-year low of $15.96 and a 1-year high of $28.51. The company’s fifty day simple moving average is $17.80 and its 200-day simple moving average is $18.17. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.89 and a quick ratio of 0.28. The stock has a market capitalization of $9.46 billion, a PE ratio of -89.89 and a beta of -0.01.

Conagra Brands (NYSE:CAG) last announced its earnings results on Friday, December 19th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The company had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period last year, the firm earned $0.70 EPS. Conagra Brands’s revenue for the quarter was down 6.8% compared to the same quarter last year. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, equities analysts anticipate that Conagra Brands will post 2.35 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Investors of record on Tuesday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 7.1%. Conagra Brands’s payout ratio is -636.36%.

Analyst Ratings Changes

A number of brokerages have weighed in on CAG. Morgan Stanley decreased their target price on Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, January 16th. Wall Street Zen downgraded shares of Conagra Brands from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. The Goldman Sachs Group cut their target price on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a research report on Monday, November 24th. JPMorgan Chase & Co. decreased their target price on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, December 16th. Finally, Stifel Nicolaus dropped their price target on Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $18.86.

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.