Conagra Brands $CAG Shares Acquired by Corient Private Wealth LP

Corient Private Wealth LP increased its stake in shares of Conagra Brands (NYSE:CAG) by 687.5% in the 2nd quarter, Holdings Channel reports. The firm owned 1,413,871 shares of the company’s stock after purchasing an additional 1,234,338 shares during the period. Corient Private Wealth LP’s holdings in Conagra Brands were worth $19,030,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Conagra Brands in the second quarter valued at approximately $1,071,275,000. Norges Bank purchased a new stake in shares of Conagra Brands during the fourth quarter worth approximately $145,656,000. Two Sigma Investments LP increased its position in shares of Conagra Brands by 239.6% during the third quarter. Two Sigma Investments LP now owns 8,347,163 shares of the company’s stock worth $152,837,000 after purchasing an additional 5,889,542 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Conagra Brands by 245.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock valued at $141,611,000 after purchasing an additional 5,495,503 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Conagra Brands by 216.2% in the 3rd quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock valued at $135,318,000 after purchasing an additional 5,100,424 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Stock Up 0.4%

Shares of NYSE:CAG opened at $16.08 on Friday. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.32. The stock has a market cap of $7.70 billion, a P/E ratio of -4.02 and a beta of -0.03. The business has a fifty day moving average of $14.79 and a two-hundred day moving average of $15.24. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, research analysts expect that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders 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 dividend on an annualized basis and a yield of 4.4%. Conagra Brands’s payout ratio is -17.50%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. BNP Paribas Exane reduced their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 21st. Wells Fargo & Company decreased their price target on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, May 18th. Weiss Ratings lowered shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, June 18th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Company 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.