State of Wyoming Buys Shares of 32,860 Conagra Brands $CAG

State of Wyoming bought a new position in Conagra Brands (NYSE:CAG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,860 shares of the company’s stock, valued at approximately $442,000.

A number of other large investors have also made changes to their positions in CAG. CYBER HORNET ETFs LLC bought a new position in shares of Conagra Brands in the 2nd quarter worth approximately $26,000. MUFG Securities EMEA plc bought a new stake in Conagra Brands during the second quarter valued at approximately $29,000. Harbour Investments Inc. increased its holdings in Conagra Brands by 80.4% during 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 last quarter. Bell Investment Advisors Inc increased its holdings in Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after buying an additional 1,029 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in Conagra Brands in the third quarter worth approximately $33,000. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CAG has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. 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. JPMorgan Chase & Co. lifted their target price on Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. Evercore cut their price target on Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Finally, BNP Paribas Exane reduced their price target on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 21st. One equities 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $14.07.

Conagra Brands Stock Performance

CAG opened at $15.55 on Tuesday. The company 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 current ratio of 0.90 and a quick ratio of 0.31. The firm has a market cap of $7.44 billion, a P/E ratio of -3.89 and a beta of -0.03. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $20.32.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating the consensus estimate 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 period last year, the firm earned $0.56 EPS. The company’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. Equities analysts forecast that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.5%. Conagra Brands’s dividend payout ratio (DPR) is currently -17.50%.

Conagra Brands Company 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.