Cerity Partners LLC Raises Position in Conagra Brands $CAG

Cerity Partners LLC increased its stake in Conagra Brands (NYSE:CAG) by 10.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 508,579 shares of the company’s stock after purchasing an additional 46,839 shares during the quarter. Cerity Partners LLC’s holdings in Conagra Brands were worth $10,411,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Norges Bank purchased a new position in Conagra Brands in the 2nd quarter worth approximately $172,475,000. Ameriprise Financial Inc. raised its stake in shares of Conagra Brands by 233.7% during the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock valued at $159,625,000 after purchasing an additional 4,191,555 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in shares of Conagra Brands by 315.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company’s stock worth $84,340,000 after purchasing an additional 3,128,203 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Conagra Brands by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock worth $217,686,000 after purchasing an additional 2,702,407 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Conagra Brands by 156.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,238,558 shares of the company’s stock valued at $45,823,000 after purchasing an additional 1,366,059 shares during the period. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 1.8%

Shares of Conagra Brands stock opened at $17.43 on Thursday. The business has a 50-day moving average price of $17.80 and a 200 day moving average price of $19.21. Conagra Brands has a fifty-two week low of $16.60 and a fifty-two week high of $28.51. The firm has a market cap of $8.34 billion, a P/E ratio of 9.91 and a beta of -0.01. The company has a quick ratio of 0.44, a current ratio of 1.06 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the firm earned $0.53 EPS. The business’s revenue was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, sell-side analysts forecast that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 30th. This represents a $1.40 annualized dividend and a yield of 8.0%. Conagra Brands’s payout ratio is presently 79.55%.

Insiders Place Their Bets

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of the stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $17.19, for a total transaction of $223,659.09. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CAG. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $22.00 price target on shares of Conagra Brands in a research note on Thursday, October 2nd. Morgan Stanley lifted their target price on Conagra Brands from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. UBS Group lowered their price objective on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Conagra Brands in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Conagra Brands currently has a consensus rating of “Reduce” and an average price target of $20.82.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.