Conagra Brands $CAG Shares Acquired by Steadtrust LLC

Steadtrust LLC lifted its stake in shares of Conagra Brands (NYSE:CAG) by 124.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,200 shares of the company’s stock after purchasing an additional 42,200 shares during the quarter. Steadtrust LLC’s holdings in Conagra Brands were worth $1,026,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Atlas Brown Inc. increased its stake in Conagra Brands by 58.3% in the 2nd quarter. Atlas Brown Inc. now owns 20,073 shares of the company’s stock valued at $270,000 after buying an additional 7,392 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Conagra Brands in the 2nd quarter worth $156,000. Wilsey Asset Management Inc. lifted its stake in shares of Conagra Brands by 5.5% in the 2nd quarter. Wilsey Asset Management Inc. now owns 2,371,086 shares of the company’s stock worth $31,915,000 after acquiring an additional 122,713 shares during the period. Cooper Financial Group boosted its holdings in shares of Conagra Brands by 16.3% in the second quarter. Cooper Financial Group now owns 12,834 shares of the company’s stock valued at $173,000 after acquiring an additional 1,796 shares in the last quarter. Finally, Castle Rock Wealth Management LLC increased its stake in shares of Conagra Brands by 3.6% during the second quarter. Castle Rock Wealth Management LLC now owns 26,128 shares of the company’s stock worth $374,000 after acquiring an additional 911 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on CAG shares. Jefferies Financial Group cut 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. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $12.00 price objective (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. Weiss Ratings cut Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. JPMorgan Chase & Co. increased their target price 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, Stifel Nicolaus reduced their price target on Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a report on Tuesday, April 21st. One investment 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, Conagra Brands has an average rating of “Reduce” and an average price target of $14.07.

Conagra Brands Stock Performance

Shares of CAG opened at $15.09 on Monday. The company has a 50-day simple moving average of $14.01 and a 200-day simple moving average of $15.48. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $7.22 billion, a PE ratio of -3.77 and a beta of -0.03. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.32.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 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 firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The firm’s 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. Equities research analysts predict that Conagra Brands will post 1.45 earnings per share 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 paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 annualized dividend and a dividend yield of 4.6%. Conagra Brands’s payout ratio is -17.50%.

Conagra Brands Profile

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.