Ieq Capital LLC Buys New Stake in Conagra Brands $CAG

Ieq Capital LLC purchased a new position in shares of Conagra Brands (NYSE:CAG) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 257,701 shares of the company’s stock, valued at approximately $3,469,000. Ieq Capital LLC owned approximately 0.05% of Conagra Brands at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAG. WealthPlan Investment Management LLC increased its position in shares of Conagra Brands by 5.3% during the fourth quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock worth $189,000 after purchasing an additional 548 shares in the last quarter. All Terrain Financial Advisors LLC boosted its position in shares of Conagra Brands by 0.3% in the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock valued at $3,063,000 after purchasing an additional 609 shares during the period. Jackson Hole Capital Partners LLC boosted its position in shares of Conagra Brands by 4.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock valued at $311,000 after purchasing an additional 701 shares during the period. Harbour Investments Inc. grew its stake 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 buying an additional 701 shares during the last quarter. Finally, Tema ETFs LLC grew its stake in Conagra Brands by 9.3% during the 2nd quarter. Tema ETFs LLC now owns 8,546 shares of the company’s stock worth $115,000 after buying an additional 725 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 1.4%

CAG stock opened at $16.65 on Tuesday. Conagra Brands has a one year low of $12.53 and a one year high of $20.32. The stock has a market capitalization of $7.97 billion, a PE ratio of -4.16 and a beta of -0.03. 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 company has a fifty day moving average of $14.56 and a 200-day moving average of $15.31.

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

Conagra Brands Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be given a $0.175 dividend. The ex-dividend date is Thursday, July 30th. This represents a $0.70 annualized dividend and a yield of 4.2%. Conagra Brands’s dividend payout ratio is presently -17.50%.

Analysts Set New Price Targets

CAG has been the subject of a number of research reports. Sanford C. Bernstein reiterated an “underperform” rating and issued a $12.00 price objective (down from $16.00) on shares of Conagra Brands in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their target price on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. UBS Group lifted their price objective on shares of Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Conagra Brands presently has a consensus 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.