Wedge Capital Management L L P NC Buys 47,658 Shares of Conagra Brands $CAG

Wedge Capital Management L L P NC raised its stake in shares of Conagra Brands (NYSE:CAG) by 18.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 303,432 shares of the company’s stock after acquiring an additional 47,658 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Conagra Brands were worth $4,084,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Bell Investment Advisors Inc boosted its position in 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 buying an additional 1,029 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Conagra Brands in the second quarter valued at approximately $26,000. Harbour Investments Inc. grew its position in Conagra Brands by 80.4% during the 4th 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 last quarter. MUFG Securities EMEA plc acquired a new stake in Conagra Brands during the 2nd quarter valued at $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Conagra Brands in the 3rd quarter valued at $33,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

CAG stock opened at $15.39 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The business’s fifty day moving average is $14.18 and its 200-day moving average is $15.42. The company has a market cap of $7.37 billion, a P/E ratio of -3.85 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating 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 the consensus estimate of $2.89 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Equities research analysts forecast that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be issued 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 4.5%. Conagra Brands’s payout ratio is currently -17.50%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CAG shares. Royal Bank Of Canada lowered their target price on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Thursday, June 18th. Stifel Nicolaus dropped their price objective on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 21st. 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 report on Wednesday, June 3rd. Finally, Weiss Ratings cut Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $14.07.

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.