Meeder Advisory Services Inc. Makes New Investment in Conagra Brands $CAG

Meeder Advisory Services Inc. purchased a new stake in shares of Conagra Brands (NYSE:CAG) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 53,714 shares of the company’s stock, valued at approximately $723,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of CAG. CYBER HORNET ETFs LLC purchased a new stake in Conagra Brands in the 2nd quarter worth $26,000. MUFG Securities EMEA plc bought a new stake in Conagra Brands in the second quarter worth $29,000. Harbour Investments Inc. increased its holdings in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after buying an additional 701 shares during the last quarter. Bell Investment Advisors Inc raised its position in Conagra Brands by 156.9% during 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. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in Conagra Brands during the 3rd quarter valued at $33,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $16.25 on Friday. 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 1.02, a quick ratio of 0.31 and a current ratio of 0.90. The firm has a fifty day moving average of $14.45 and a 200 day moving average of $15.34. The firm has a market cap of $7.78 billion, a PE ratio of -4.06 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, research analysts predict that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio (DPR) is currently -17.50%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a report on Thursday, June 18th. Jefferies Financial Group reduced their price target on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a report on Wednesday, May 27th. UBS Group upped their price objective on Conagra Brands from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Zacks Research downgraded shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Finally, JPMorgan Chase & Co. raised 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. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $14.07.

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.