Kingsview Wealth Management LLC Buys Shares of 50,576 Conagra Brands $CAG

Kingsview Wealth Management LLC purchased a new stake in shares of Conagra Brands (NYSE:CAG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 50,576 shares of the company’s stock, valued at approximately $681,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Conagra Brands in the 2nd quarter valued at about $1,071,275,000. State Street Corp boosted its position in Conagra Brands by 2.3% during the second quarter. State Street Corp now owns 26,202,392 shares of the company’s stock worth $536,363,000 after purchasing an additional 588,435 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Conagra Brands by 9.7% in the first quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock worth $303,771,000 after purchasing an additional 1,701,624 shares in the last quarter. Invesco Ltd. increased its stake in shares of Conagra Brands by 13.3% in the fourth quarter. Invesco Ltd. now owns 17,667,780 shares of the company’s stock worth $305,829,000 after purchasing an additional 2,079,903 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Conagra Brands by 18.5% in the fourth quarter. Morgan Stanley now owns 15,229,557 shares of the company’s stock valued at $263,624,000 after purchasing an additional 2,376,823 shares during the period. Institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CAG. Sanford C. Bernstein restated an “underperform” rating and set a $12.00 price target (down from $16.00) on shares of Conagra Brands in a research note on Wednesday, June 3rd. Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Morgan Stanley dropped 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. Royal Bank Of Canada cut their price target on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Thursday, July 16th. Finally, Barclays lifted their price target on Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $14.07.

Conagra Brands Trading Down 0.1%

Shares of CAG stock opened at $16.08 on Monday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. Conagra Brands has a 52-week low of $12.53 and a 52-week high of $20.32. The company has a market capitalization of $7.70 billion, a PE ratio of -4.02 and a beta of -0.03. The business’s fifty day moving average is $14.79 and its 200 day moving average is $15.22.

Conagra Brands (NYSE:CAG) last posted 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. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s revenue was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities research analysts anticipate that Conagra Brands will post 1.45 EPS for the current fiscal 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 paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, July 30th. 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.