Sanctuary Advisors LLC Buys 65,982 Shares of Conagra Brands $CAG

Sanctuary Advisors LLC increased its stake in Conagra Brands (NYSE:CAG) by 236.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,857 shares of the company’s stock after acquiring an additional 65,982 shares during the quarter. Sanctuary Advisors LLC’s holdings in Conagra Brands were worth $1,263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. CYBER HORNET ETFs LLC bought a new stake in shares of Conagra Brands in the 2nd quarter valued at $26,000. Bell Investment Advisors Inc raised its stake in Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after buying an additional 1,029 shares during the last quarter. Harbour Investments Inc. lifted its holdings in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after buying an additional 701 shares during the period. MUFG Securities EMEA plc acquired a new position in Conagra Brands in the second quarter valued at $29,000. Finally, Rakuten Securities Inc. boosted its position in Conagra Brands by 339.7% during the second quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock valued at $31,000 after acquiring an additional 1,756 shares during the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Zacks Research lowered Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Morgan Stanley cut their target price on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Wells Fargo & Company decreased their target price on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research note on Monday, May 18th. UBS Group boosted their price target 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, Jefferies Financial Group cut their price target on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $14.07.

Conagra Brands Trading Down 1.2%

NYSE:CAG opened at $16.00 on Friday. 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 $7.66 billion, a price-to-earnings ratio of -4.00 and a beta of -0.03. Conagra Brands has a 52 week low of $12.53 and a 52 week high of $20.32. The firm has a 50-day moving average price of $14.73 and a two-hundred day moving average price of $15.24.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate 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 revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities analysts expect that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be given a $0.175 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 annualized dividend and a yield of 4.4%. Conagra Brands’s payout ratio 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.