Rhumbline Advisers Raises Holdings in Conagra Brands $CAG

Rhumbline Advisers boosted its stake in Conagra Brands (NYSE:CAG) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,116,782 shares of the company’s stock after purchasing an additional 51,689 shares during the period. Rhumbline Advisers owned about 0.23% of Conagra Brands worth $20,448,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Quaker Wealth Management LLC increased its stake in shares of Conagra Brands by 202.3% in the second quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock worth $25,000 after buying an additional 2,427 shares during the period. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands in the second quarter valued at about $26,000. True Wealth Design LLC raised its stake in shares of Conagra Brands by 844.4% during the third quarter. True Wealth Design LLC now owns 1,596 shares of the company’s stock valued at $29,000 after acquiring an additional 1,427 shares during the last quarter. MUFG Securities EMEA plc purchased a new stake in shares of Conagra Brands during the second quarter worth about $29,000. Finally, Spire Wealth Management boosted its holdings in shares of Conagra Brands by 249.0% during the third quarter. Spire Wealth Management now owns 1,724 shares of the company’s stock worth $32,000 after purchasing an additional 1,230 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Conagra Brands Stock Performance

Shares of CAG stock opened at $19.78 on Tuesday. The company’s fifty day moving average price is $17.80 and its 200-day moving average price is $18.17. The stock has a market cap of $9.46 billion, a PE ratio of -89.89 and a beta of -0.01. The company has a current ratio of 0.89, a quick ratio of 0.28 and a debt-to-equity ratio of 0.80. Conagra Brands has a 12 month low of $15.96 and a 12 month high of $28.51.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Friday, December 19th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3 billion. Conagra Brands had a negative net margin of 0.87% and a positive return on equity of 10.59%. Conagra Brands’s revenue was down 6.8% on a year-over-year basis. During the same period last year, the company posted $0.70 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, equities analysts expect that Conagra Brands will post 2.35 EPS for the current fiscal year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Tuesday, January 27th will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, January 27th. This represents a $1.40 dividend on an annualized basis and a yield of 7.1%. Conagra Brands’s payout ratio is presently -636.36%.

Analyst Upgrades and Downgrades

A number of research firms have commented on CAG. Morgan Stanley lowered their price target on Conagra Brands from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report on Friday, January 16th. Stifel Nicolaus reduced their target price on Conagra Brands from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Thursday, December 11th. The Goldman Sachs Group dropped their price target on Conagra Brands from $18.00 to $16.00 and set a “sell” rating for the company in a research note on Monday, November 24th. UBS Group reissued a “neutral” rating and set a $20.00 price objective on shares of Conagra Brands in a research report on Friday. Finally, Evercore dropped their target price on shares of Conagra Brands from $22.00 to $19.00 in a research report on Friday, January 9th. One research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $18.86.

About Conagra Brands

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.