Conagra Brands $CAG Stake Raised by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS increased its holdings in shares of Conagra Brands (NYSE:CAG) by 7.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 746,465 shares of the company’s stock after purchasing an additional 51,952 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Conagra Brands were worth $10,032,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CAG. AIA Group Ltd lifted its holdings in Conagra Brands by 319.5% during the first quarter. AIA Group Ltd now owns 411,099 shares of the company’s stock worth $6,462,000 after acquiring an additional 313,106 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $1,071,275,000. Corient Private Wealth LP increased its stake in Conagra Brands by 655.5% during the 2nd quarter. Corient Private Wealth LP now owns 1,356,285 shares of the company’s stock worth $18,256,000 after purchasing an additional 1,176,752 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Conagra Brands by 233.9% during the 1st quarter. Bleakley Financial Group LLC now owns 162,249 shares of the company’s stock worth $2,551,000 after purchasing an additional 113,657 shares in the last quarter. Finally, Man Group plc increased its stake in Conagra Brands by 382.9% during the 2nd quarter. Man Group plc now owns 461,153 shares of the company’s stock worth $6,207,000 after purchasing an additional 365,651 shares in the last quarter. 83.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CAG has been the topic of several research analyst reports. UBS Group raised their target price on shares of Conagra Brands from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Conagra Brands from $12.00 to $13.00 and gave the company a “hold” rating in a report on Friday, September 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Conagra Brands in a research report on Tuesday, September 22nd. Barclays lowered their price objective on shares of Conagra Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Finally, Evercore set a $13.00 price objective on shares of Conagra Brands in a report on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $14.07.

Conagra Brands Stock Performance

Shares of Conagra Brands stock opened at $15.24 on Friday. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of -3.83 and a beta of 0.02. The stock’s 50-day moving average is $14.56 and its 200-day moving average is $15.27. Conagra Brands has a one year low of $12.53 and a one year high of $20.32. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.39.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings data on Wednesday, September 30th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.13. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.59 billion. Conagra Brands had a positive return on equity of 11.46% and a negative net margin of 16.95%. Conagra Brands’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Equities analysts predict that Conagra Brands will post 1.46 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a $0.1750 dividend. The ex-dividend date is Thursday, November 5th. This represents a $0.70 annualized dividend and a yield of 4.6%. Conagra Brands’s payout ratio is presently -17.59%.

About Conagra Brands

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded food products for retail, foodservice and other commercial customers. The company’s portfolio includes frozen meals and side dishes, snacks, refrigerated foods, shelf-stable groceries, condiments and cooking products.

Its brands include Birds Eye, Healthy Choice, Marie Callender’s, Banquet, Duncan Hines, Reddi-wip, Hunt’s, Slim Jim, Orville Redenbacher’s, Chef Boyardee, Hebrew National, Vlasic and PAM.