Acorn Creek Capital LLC Reduces Holdings in Conagra Brands $CAG

Acorn Creek Capital LLC decreased its holdings in shares of Conagra Brands (NYSE:CAG) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,266 shares of the company’s stock after selling 1,719 shares during the period. Acorn Creek Capital LLC’s holdings in Conagra Brands were worth $558,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CAG. Vanguard Group Inc. lifted its position in Conagra Brands by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company’s stock valued at $1,610,971,000 after purchasing an additional 1,604,893 shares during the period. Invesco Ltd. lifted its position in Conagra Brands by 6.3% in the first quarter. Invesco Ltd. now owns 11,859,985 shares of the company’s stock valued at $316,306,000 after purchasing an additional 698,630 shares during the period. Dimensional Fund Advisors LP lifted its position in Conagra Brands by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock valued at $217,686,000 after purchasing an additional 2,702,407 shares during the period. Ameriprise Financial Inc. lifted its position in Conagra Brands by 233.7% in the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock valued at $159,625,000 after purchasing an additional 4,191,555 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Conagra Brands by 315.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company’s stock valued at $84,340,000 after purchasing an additional 3,128,203 shares during the period. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Zacks Research upgraded shares of Conagra Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 2nd. Evercore ISI reduced their price objective on shares of Conagra Brands from $24.00 to $23.00 and set an “in-line” rating for the company in a research report on Wednesday, September 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Conagra Brands in a research report on Wednesday. UBS Group reduced their price objective on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, September 24th. Finally, Stifel Nicolaus dropped their target price on shares of Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a report on Friday, July 11th. One analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Conagra Brands currently has a consensus rating of “Reduce” and a consensus target price of $21.92.

Conagra Brands Trading Up 0.4%

Shares of CAG opened at $18.58 on Friday. The stock has a fifty day moving average of $18.96 and a two-hundred day moving average of $21.32. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.44 and a current ratio of 1.06. The company has a market capitalization of $8.89 billion, a PE ratio of 10.55, a price-to-earnings-growth ratio of 1.77 and a beta of 0.03. Conagra Brands has a fifty-two week low of $17.89 and a fifty-two week high of $30.47.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.Conagra Brands’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be issued a $0.35 dividend. The ex-dividend date is Thursday, October 30th. This represents a $1.40 annualized dividend and a yield of 7.5%. Conagra Brands’s payout ratio is 79.55%.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.