Conagra Brands $CAG Shares Purchased by WBI Investments LLC

WBI Investments LLC lifted its position in Conagra Brands (NYSE:CAG) by 179.8% in the third quarter, HoldingsChannel reports. The firm owned 144,926 shares of the company’s stock after buying an additional 93,124 shares during the period. Conagra Brands makes up about 0.7% of WBI Investments LLC’s portfolio, making the stock its 25th biggest holding. WBI Investments LLC’s holdings in Conagra Brands were worth $2,654,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CAG. Wealth Enhancement Advisory Services LLC lifted its holdings in Conagra Brands by 45.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 342,942 shares of the company’s stock valued at $6,485,000 after acquiring an additional 106,891 shares during the last quarter. Hsbc Holdings PLC increased its stake in Conagra Brands by 20.0% during the second quarter. Hsbc Holdings PLC now owns 1,251,371 shares of the company’s stock worth $25,578,000 after acquiring an additional 208,450 shares during the last quarter. AE Wealth Management LLC increased its stake in Conagra Brands by 13.7% during the third quarter. AE Wealth Management LLC now owns 720,093 shares of the company’s stock worth $13,185,000 after acquiring an additional 86,604 shares during the last quarter. JPMorgan Chase & Co. raised its position in Conagra Brands by 15.6% in the third quarter. JPMorgan Chase & Co. now owns 3,021,478 shares of the company’s stock valued at $55,323,000 after purchasing an additional 408,597 shares during the period. Finally, Alps Advisors Inc. purchased a new stake in Conagra Brands in the third quarter valued at $7,310,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

Shares of CAG stock opened at $16.20 on Wednesday. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. Conagra Brands has a 12 month low of $15.96 and a 12 month high of $27.68. The company has a market cap of $7.75 billion, a P/E ratio of -73.61 and a beta of -0.02. The firm has a fifty day moving average price of $18.15 and a 200 day moving average price of $18.04.

Conagra Brands (NYSE:CAG) last announced 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. Conagra Brands had a positive return on equity of 10.59% and a negative net margin of 0.87%.The firm had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $0.70 earnings per share. The firm’s quarterly revenue 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. Sell-side analysts predict that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Tuesday, January 27th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.6%. Conagra Brands’s payout ratio is -636.36%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CAG. Sanford C. Bernstein lowered their price target on Conagra Brands from $21.00 to $18.00 and set a “market perform” rating for the company in a report on Monday, December 22nd. Wall Street Zen upgraded shares of Conagra Brands from a “sell” rating to a “hold” rating in a report on Saturday, February 21st. Evercore lowered their target price on shares of Conagra Brands from $22.00 to $19.00 in a research note on Friday, January 9th. Morgan Stanley reiterated an “overweight” rating on shares of Conagra Brands in a research report on Wednesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft reduced 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 Monday, December 22nd. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Conagra Brands presently has an average rating of “Reduce” and an average target price of $18.71.

Conagra Brands 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.