Dimensional Fund Advisors LP Grows Stock Position in Conagra Brands $CAG

Dimensional Fund Advisors LP grew its stake in Conagra Brands (NYSE:CAG) by 9.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 19,323,789 shares of the company’s stock after buying an additional 1,701,624 shares during the quarter. Dimensional Fund Advisors LP owned 4.04% of Conagra Brands worth $303,771,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Bell Investment Advisors Inc lifted its holdings in Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after buying an additional 1,029 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands in the 2nd quarter valued at about $26,000. Harbour Investments Inc. raised its position in shares of 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 in the last quarter. MUFG Securities EMEA plc purchased a new stake in Conagra Brands during the second quarter worth approximately $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Conagra Brands in the third quarter valued at approximately $33,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CAG. Wells Fargo & Company lowered their target price on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Evercore cut their price target on shares of Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. The Goldman Sachs Group reduced their price target on shares of Conagra Brands from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Thursday, April 2nd. Royal Bank Of Canada dropped their price objective on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. Finally, Jefferies Financial Group cut their target price on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Wednesday, May 27th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, Conagra Brands presently has a consensus rating of “Reduce” and an average target price of $14.07.

Conagra Brands Stock Down 0.3%

Shares of NYSE:CAG opened at $14.80 on Thursday. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $20.32. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. The stock has a market cap of $7.09 billion, a P/E ratio of -3.70 and a beta of -0.02. The firm has a fifty day moving average price of $13.65 and a 200 day moving average price of $15.64.

Conagra Brands (NYSE:CAG) last posted 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 negative net margin of 16.99% and a positive return on equity of 10.44%. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the previous year, the business posted $0.56 earnings per share. Conagra Brands’s quarterly 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. Sell-side analysts predict that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 4.7%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s payout ratio is -35.00%.

About Conagra Brands

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.