Corient Private Wealth LP Acquires Shares of 1,401,621 Conagra Brands $CAG

Corient Private Wealth LP acquired a new stake in shares of Conagra Brands (NYSE:CAG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,401,621 shares of the company’s stock, valued at approximately $18,865,000. Corient Private Wealth LP owned 0.29% of Conagra Brands as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CAG. VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in Conagra Brands by 24.8% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company’s stock valued at $11,442,000 after purchasing an additional 131,287 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Conagra Brands by 23.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company’s stock worth $140,659,000 after purchasing an additional 1,554,725 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Conagra Brands during the 4th quarter worth about $2,415,000. Marathon Trading Investment Management LLC acquired a new stake in shares of Conagra Brands in the 4th quarter valued at about $1,367,000. Finally, Hsbc Holdings PLC grew its stake in shares of Conagra Brands by 25.0% in the 4th quarter. Hsbc Holdings PLC now owns 785,989 shares of the company’s stock valued at $13,634,000 after buying an additional 157,423 shares during the period. 83.75% of the stock is owned by institutional investors and hedge funds.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $16.08 on Friday. The company has a market capitalization of $7.70 billion, a PE ratio of -4.02 and a beta of -0.03. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02. The stock’s 50 day moving average price is $14.79 and its 200-day moving average price is $15.24. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $2.88 billion during 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%.Conagra Brands’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities analysts anticipate that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 annualized dividend and a dividend yield of 4.4%. Conagra Brands’s dividend payout ratio (DPR) is currently -17.50%.

Analyst Upgrades and Downgrades

CAG has been the topic of a number of research reports. JPMorgan Chase & Co. upped their price target on Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Evercore reduced their price objective on Conagra Brands from $18.00 to $13.00 in a research note on Wednesday, June 10th. Weiss Ratings downgraded Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, June 25th. Wells Fargo & Company cut their target price on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Monday, May 18th. Finally, Jefferies Financial Group decreased their price target on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $14.07.

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.