Conagra Brands $CAG Shares Purchased by Man Group plc

Man Group plc increased its stake in shares of Conagra Brands (NYSE:CAG) by 382.9% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 461,153 shares of the company’s stock after buying an additional 365,651 shares during the quarter. Man Group plc owned about 0.10% of Conagra Brands worth $6,207,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. WealthPlan Investment Management LLC grew its position in Conagra Brands by 5.3% in the fourth quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock worth $189,000 after acquiring an additional 548 shares during the period. All Terrain Financial Advisors LLC raised its position in Conagra Brands by 0.3% in the fourth quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock valued at $3,063,000 after purchasing an additional 609 shares during the period. Harbour Investments Inc. lifted its stake in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares during the last quarter. Tema ETFs LLC grew its holdings in shares of Conagra Brands by 9.3% during the 2nd quarter. Tema ETFs LLC now owns 8,546 shares of the company’s stock worth $115,000 after purchasing an additional 725 shares during the period. Finally, EP Wealth Advisors LLC increased its position in shares of Conagra Brands by 3.3% during the 2nd quarter. EP Wealth Advisors LLC now owns 23,984 shares of the company’s stock worth $491,000 after purchasing an additional 772 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. Jefferies Financial Group reduced their price target on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. JPMorgan Chase & Co. upped their price objective on shares of Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Sanford C. Bernstein reaffirmed an “underperform” rating and set a $12.00 price objective (down from $16.00) on shares of Conagra Brands in a research report on Wednesday, June 3rd. Finally, Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $16.08 on Friday. The business has a 50-day simple moving average of $14.79 and a 200-day simple moving average of $15.24. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. Conagra Brands has a one year low of $12.53 and a one year high of $20.32. The company has a market cap of $7.70 billion, a PE ratio of -4.02 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.Conagra Brands’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities research analysts forecast that Conagra Brands will post 1.45 EPS for the current fiscal 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 issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands’s dividend payout ratio is presently -17.50%.

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.