Tejara Capital Ltd Invests $630,000 in Conagra Brands $CAG

Tejara Capital Ltd acquired a new stake in Conagra Brands (NYSE:CAG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 46,800 shares of the company’s stock, valued at approximately $630,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. WealthPlan Investment Management LLC raised its holdings in shares of Conagra Brands by 5.3% during the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock worth $189,000 after acquiring an additional 548 shares during the period. All Terrain Financial Advisors LLC boosted its position in shares of Conagra Brands by 0.3% during the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock worth $3,063,000 after purchasing an additional 609 shares during the period. Jackson Hole Capital Partners LLC raised its holdings in shares of Conagra Brands by 4.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock valued at $311,000 after buying an additional 701 shares during the period. Harbour Investments Inc. lifted its position in shares of Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after purchasing an additional 701 shares in the last quarter. Finally, Tema ETFs LLC lifted its holdings in Conagra Brands by 9.3% during the 2nd quarter. Tema ETFs LLC now owns 8,546 shares of the company’s stock worth $115,000 after buying an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Conagra Brands from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $12.00 target price (down from $16.00) on shares of Conagra Brands in a report on Wednesday, June 3rd. Weiss Ratings downgraded Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Wells Fargo & Company reduced their target price on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. Finally, Evercore decreased their price target on Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. One 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, Conagra Brands currently has a consensus rating of “Reduce” and a consensus price target of $14.07.

Conagra Brands Stock Performance

Conagra Brands stock opened at $16.25 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32. The firm’s fifty day moving average price is $14.45 and its 200 day moving average price is $15.34. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of -4.06 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last issued its 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 company had revenue of $2.88 billion during 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 business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last 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 forecast that Conagra Brands will post 1.45 EPS for the current fiscal 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. This represents a $0.70 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Thursday, July 30th. 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.