32,860 Shares in Conagra Brands $CAG Bought by State of Wyoming

State of Wyoming acquired a new position in Conagra Brands (NYSE:CAG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 32,860 shares of the company’s stock, valued at approximately $442,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CAG. Norges Bank purchased a new stake in shares of Conagra Brands in the 4th quarter worth about $145,656,000. Two Sigma Investments LP boosted its stake in 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 acquiring an additional 5,889,542 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Conagra Brands by 245.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 7,734,061 shares of the company’s stock worth $141,611,000 after acquiring an additional 5,495,503 shares in the last quarter. AQR Capital Management LLC grew its holdings in Conagra Brands by 216.2% in the third quarter. AQR Capital Management LLC now owns 7,459,654 shares of the company’s stock worth $135,318,000 after purchasing an additional 5,100,424 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Conagra Brands by 241.9% in the third quarter. Qube Research & Technologies Ltd now owns 5,915,490 shares of the company’s stock worth $108,313,000 after purchasing an additional 4,185,486 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CAG shares. Barclays raised their target price on shares of Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Deutsche Bank Aktiengesellschaft cut their price target on Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Thursday, June 18th. Zacks Research lowered Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. UBS Group lifted their price objective on Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Sanford C. Bernstein reissued an “underperform” rating and issued a $12.00 target price (down from $16.00) on shares of Conagra Brands in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Conagra Brands currently has an average rating of “Reduce” and an average target price of $14.07.

Conagra Brands Price Performance

Shares of NYSE:CAG opened at $15.55 on Tuesday. Conagra Brands has a fifty-two week low of $12.53 and a fifty-two week high of $20.32. The business has a 50-day simple moving average of $14.28 and a two-hundred day simple moving average of $15.38. 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 firm has a market cap of $7.44 billion, a price-to-earnings ratio of -3.89 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $0.56 EPS. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, analysts expect that Conagra Brands will post 1.45 earnings per share for the current 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. The ex-dividend date is Thursday, July 30th. This represents a $0.70 annualized dividend and a yield of 4.5%. Conagra Brands’s dividend payout ratio (DPR) is currently -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.