Stock Traders Buy Large Volume of Call Options on Conagra Brands (NYSE:CAG)

Conagra Brands (NYSE:CAG) was the recipient of unusually large options trading activity on Monday. Traders purchased 99,242 call options on the company. This is an increase of 905% compared to the average volume of 9,873 call options.

Conagra Brands Stock Performance

Conagra Brands stock traded up $0.59 during midday trading on Monday, reaching $18.09. The stock had a trading volume of 17,197,309 shares, compared to its average volume of 13,418,145. Conagra Brands has a 12 month low of $15.96 and a 12 month high of $28.51. The firm’s 50-day moving average price is $17.29 and its 200 day moving average price is $18.18. The firm has a market capitalization of $8.65 billion, a PE ratio of -82.23 and a beta of -0.01. The company has a quick ratio of 0.28, a current ratio of 0.89 and a debt-to-equity ratio of 0.80.

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

Conagra Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Tuesday, January 27th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 7.7%. Conagra Brands’s payout ratio is presently -636.36%.

Insider Activity

In other news, SVP Melissa C. Napier sold 13,011 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total value of $223,659.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.57% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Conagra Brands

Large investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in shares of Conagra Brands by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock valued at $628,000 after purchasing an additional 954 shares in the last quarter. United Services Automobile Association bought a new stake in Conagra Brands during the first quarter valued at $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 worth $970,000 after buying an additional 2,038 shares in 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 worth $1,075,000 after buying an additional 11,664 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its stake in Conagra Brands by 13.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 11,375 shares of the company’s stock worth $233,000 after acquiring an additional 1,372 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on CAG shares. Evercore ISI cut their price objective on Conagra Brands from $22.00 to $19.00 in a research report on Friday, January 9th. Stifel Nicolaus lowered their target price 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, December 22nd. Jefferies Financial Group decreased their price objective on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating for the company in a report on Thursday, December 11th. Finally, TD Cowen reiterated a “hold” rating on shares of Conagra Brands in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $18.71.

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.