West Family Investments Inc. Makes New Investment in Conagra Brands $CAG

West Family Investments Inc. acquired a new stake in shares of Conagra Brands (NYSE:CAG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,089 shares of the company’s stock, valued at approximately $526,000.

Other hedge funds have also recently made changes to their positions in the company. Bell Investment Advisors Inc increased its holdings in shares of Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after purchasing an additional 1,029 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands during the 2nd quarter valued at approximately $26,000. Harbour Investments Inc. raised its position in shares of Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after acquiring an additional 701 shares during the period. MUFG Securities EMEA plc acquired a new position in Conagra Brands in the 2nd quarter worth about $29,000. Finally, Rakuten Securities Inc. raised its stake in shares of Conagra Brands by 339.7% during the 2nd quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock worth $31,000 after buying an additional 1,756 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CAG shares. Royal Bank Of Canada reduced their price target on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Evercore reduced their price objective on Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, June 18th. JPMorgan Chase & Co. lifted their price target on Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Finally, Wells Fargo & Company reduced their price target on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Monday, May 18th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Price Performance

CAG stock opened at $15.28 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $7.31 billion, a PE ratio of -3.82 and a beta of -0.01. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32. The business’s fifty day moving average price is $15.09 and its 200 day moving average price is $15.03.

Conagra Brands (NYSE:CAG) last posted its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, sell-side analysts anticipate that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Thursday, July 30th. Conagra Brands’s dividend payout ratio (DPR) is presently -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.