Pekin Hardy Strauss Inc. Takes Position in Conagra Brands $CAG

Pekin Hardy Strauss Inc. acquired a new position in shares of Conagra Brands (NYSE:CAG) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 244,402 shares of the company’s stock, valued at approximately $4,475,000. Pekin Hardy Strauss Inc. owned about 0.05% of Conagra Brands at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Conagra Brands by 1.6% in the second quarter. Vanguard Group Inc. now owns 61,369,876 shares of the company’s stock valued at $1,256,241,000 after buying an additional 966,031 shares in the last quarter. State Street Corp boosted its holdings in shares of Conagra Brands by 2.3% in the second quarter. State Street Corp now owns 26,202,392 shares of the company’s stock valued at $536,363,000 after acquiring an additional 588,435 shares during the period. Geode Capital Management LLC grew its position in shares of Conagra Brands by 1.5% during the second quarter. Geode Capital Management LLC now owns 12,870,239 shares of the company’s stock worth $262,405,000 after acquiring an additional 193,829 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Conagra Brands by 4.7% in the 2nd quarter. Invesco Ltd. now owns 12,414,110 shares of the company’s stock valued at $254,117,000 after acquiring an additional 554,125 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Conagra Brands by 69.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,145,798 shares of the company’s stock valued at $207,685,000 after purchasing an additional 4,160,542 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CAG. Bank of America decreased their price target on Conagra Brands from $18.00 to $17.00 and set an “underperform” rating for the company in a report on Monday, December 22nd. Royal Bank Of Canada reduced their target price on shares of Conagra Brands from $22.00 to $20.00 and set a “sector perform” rating for the company in a research note on Monday, December 22nd. Jefferies Financial Group dropped their price target on shares of Conagra Brands from $19.00 to $18.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. The Goldman Sachs Group cut their price target on shares of Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a report on Monday, November 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, December 16th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $19.07.

Conagra Brands Stock Down 0.6%

CAG stock opened at $18.68 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $17.88 and its 200 day moving average price is $18.18. Conagra Brands has a 52 week low of $15.96 and a 52 week high of $28.51. The company has a market cap of $8.93 billion, a P/E ratio of -84.89 and a beta of -0.01.

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

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Tuesday, January 27th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.5%. The ex-dividend date of this dividend is Tuesday, January 27th. Conagra Brands’s dividend payout ratio is -636.36%.

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.