Tejara Capital Ltd Takes Position in Conagra Brands $CAG

Tejara Capital Ltd bought a new stake in Conagra Brands (NYSE:CAG) during the second quarter, according to its most recent filing with the SEC. The firm bought 46,800 shares of the company’s stock, valued at approximately $630,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bell Investment Advisors Inc raised its holdings in Conagra Brands by 156.9% in the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after acquiring an additional 1,029 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new position in Conagra Brands during the 2nd quarter worth $26,000. Harbour Investments Inc. boosted its stake in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares during the last quarter. MUFG Securities EMEA plc acquired a new position in shares of Conagra Brands in the 2nd quarter valued at $29,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Conagra Brands in the third quarter valued at about $33,000. Institutional investors and hedge funds own 83.75% of the company’s stock.

Conagra Brands Stock Up 0.2%

Shares of CAG opened at $16.25 on Friday. Conagra Brands has a one year low of $12.53 and a one year high of $20.32. The company has a market cap of $7.78 billion, a P/E ratio of -4.06 and a beta of -0.03. 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 50 day simple moving average of $14.45 and a two-hundred day simple moving average of $15.34.

Conagra Brands (NYSE:CAG) last issued its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter last year, the business posted $0.56 EPS. The company’s revenue was up 3.6% compared to the same quarter last year. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Research analysts forecast that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The firm also recently announced 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. This represents a $0.70 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s payout ratio is currently -17.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CAG shares. Evercore decreased their price target on shares of Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. BNP Paribas Exane cut their price objective on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. Barclays upped their price objective on Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Weiss Ratings downgraded shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Finally, 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. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Conagra Brands presently has an average rating of “Reduce” and a consensus price target of $14.07.

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.