34,500 Shares in Conagra Brands $CAG Bought by iSAM Funds UK Ltd

iSAM Funds UK Ltd bought a new position in shares of Conagra Brands (NYSE:CAG) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 34,500 shares of the company’s stock, valued at approximately $464,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CYBER HORNET ETFs LLC acquired a new stake in shares of Conagra Brands during the second quarter worth about $26,000. MUFG Securities EMEA plc acquired a new position in shares of Conagra Brands in the 2nd quarter valued at approximately $29,000. Harbour Investments Inc. grew its position 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 valued at $27,000 after purchasing an additional 701 shares during the period. Bell Investment Advisors Inc increased its stake 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Conagra Brands during the 3rd quarter worth approximately $33,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on CAG shares. Zacks Research lowered shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research note on Monday, May 11th. Royal Bank Of Canada lowered their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Morgan Stanley dropped their price objective on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Evercore dropped their price objective on shares of Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Finally, Weiss Ratings cut 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 given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Price Performance

NYSE:CAG opened at $16.18 on Thursday. 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 stock’s 50-day simple moving average is $14.96 and its 200 day simple moving average is $15.14. The company has a market cap of $7.74 billion, a P/E ratio of -4.04 and a beta of -0.01. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, sell-side analysts forecast that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Thursday, July 30th. Conagra Brands’s dividend payout ratio is presently -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.