Jones Financial Companies Lllp Boosts Stake in Conagra Brands $CAG

Jones Financial Companies Lllp grew its holdings in shares of Conagra Brands (NYSE:CAG) by 22.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 327,686 shares of the company’s stock after acquiring an additional 60,887 shares during the period. Jones Financial Companies Lllp owned about 0.07% of Conagra Brands worth $4,614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CAG. Bell Investment Advisors Inc increased 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 purchasing an additional 1,029 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Conagra Brands in the second quarter worth $26,000. Harbour Investments Inc. raised its holdings in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after acquiring an additional 701 shares in the last quarter. MUFG Securities EMEA plc bought a new position in Conagra Brands during the 2nd quarter valued at $29,000. Finally, Rakuten Securities Inc. grew its holdings in Conagra Brands by 339.7% during the 2nd quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock worth $31,000 after acquiring an additional 1,756 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

CAG has been the subject of several research analyst reports. Barclays boosted their price objective on Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Morgan Stanley dropped their target price on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Royal Bank Of Canada reduced their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th. JPMorgan Chase & Co. increased their price target on Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Stock Up 1.4%

CAG stock opened at $16.65 on Tuesday. The firm has a market cap of $7.97 billion, a PE ratio of -4.16 and a beta of -0.03. Conagra Brands has a 12 month low of $12.53 and a 12 month 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 firm has a 50 day simple moving average of $14.56 and a 200 day simple 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. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Equities research analysts forecast that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

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

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.