Quantitative Investment Management LLC Buys Shares of 51,768 Conagra Brands $CAG

Quantitative Investment Management LLC bought a new stake in shares of Conagra Brands (NYSE:CAG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 51,768 shares of the company’s stock, valued at approximately $696,000.

A number of other hedge funds have also recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in 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 buying an additional 954 shares in the last quarter. United Services Automobile Association bought a new stake in Conagra Brands in the first quarter worth $225,000. Empowered Funds LLC boosted its holdings in Conagra Brands by 5.9% in the first quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after acquiring an additional 2,038 shares in the last quarter. Woodline Partners LP grew its stake in shares of Conagra Brands by 40.7% in the first quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after acquiring an additional 11,664 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of Conagra Brands by 3.9% in the second quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock worth $1,033,000 after acquiring an additional 1,900 shares during the last quarter. 83.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Zacks Research downgraded Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Weiss Ratings downgraded shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. Jefferies Financial Group reduced their price objective on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $12.00 target price (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. Finally, BNP Paribas Exane dropped their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. One research 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 currently has a consensus rating of “Reduce” and an average target price of $14.07.

Conagra Brands Trading Up 0.6%

Shares of NYSE:CAG opened at $16.12 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The company has a market cap of $7.71 billion, a P/E ratio of -4.03 and a beta of -0.01. The stock’s fifty day moving average price is $14.91 and its 200-day moving average price is $15.16.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. Conagra Brands’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Sell-side analysts expect that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a dividend of $0.175 per share. The ex-dividend date is Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.3%. Conagra Brands’s dividend payout ratio is -17.50%.

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.