Sigma Planning Corp Has $2.14 Million Stake in Conagra Brands $CAG

Sigma Planning Corp grew its stake in shares of Conagra Brands (NYSE:CAG) by 41.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 158,954 shares of the company’s stock after buying an additional 46,611 shares during the quarter. Sigma Planning Corp’s holdings in Conagra Brands were worth $2,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in shares of Conagra Brands during the second quarter valued at $1,071,275,000. State Street Corp increased its position in shares of Conagra Brands by 2.3% during the second quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after buying an additional 588,435 shares during the period. Dimensional Fund Advisors LP boosted its position in Conagra Brands by 9.7% during the first quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock valued at $303,771,000 after acquiring an additional 1,701,624 shares during the last quarter. Invesco Ltd. raised its position in shares of Conagra Brands by 13.3% in the 4th quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock worth $305,829,000 after acquiring an additional 2,079,903 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Conagra Brands by 18.5% during the 4th quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock valued at $263,624,000 after purchasing an additional 2,376,823 shares in the last quarter. 83.75% of the stock is currently owned by institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $16.02 on Tuesday. The company has a market capitalization of $7.67 billion, a PE ratio of -4.00 and a beta of -0.03. 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 stock’s 50 day moving average price is $14.85 and its 200-day moving average price is $15.19. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 EPS 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 company had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period last year, the business posted $0.56 earnings per share. Conagra Brands’s revenue was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities analysts anticipate that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s payout ratio is presently -17.50%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CAG. JPMorgan Chase & Co. lifted their price objective on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings lowered shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. BNP Paribas Exane cut their price target 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, Jefferies Financial Group cut their target price on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. One 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 company. According to MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $14.07.

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.