Savoir Faire Capital Management L.P. Purchases 77,386 Shares of Conagra Brands $CAG

Savoir Faire Capital Management L.P. boosted its position in Conagra Brands (NYSE:CAG) by 46.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,422 shares of the company’s stock after purchasing an additional 77,386 shares during the quarter. Conagra Brands makes up 2.4% of Savoir Faire Capital Management L.P.’s portfolio, making the stock its 15th biggest position. Savoir Faire Capital Management L.P. owned approximately 0.05% of Conagra Brands worth $4,983,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in shares of Conagra Brands by 11.9% during the first quarter. Victory Capital Management Inc. now owns 842,094 shares of the company’s stock valued at $22,459,000 after acquiring an additional 89,445 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Conagra Brands during the second quarter valued at $10,465,000. Impact Partnership Wealth LLC bought a new position in shares of Conagra Brands during the first quarter valued at $396,000. OneDigital Investment Advisors LLC increased its holdings in shares of Conagra Brands by 42.1% during the first quarter. OneDigital Investment Advisors LLC now owns 10,821 shares of the company’s stock valued at $289,000 after acquiring an additional 3,207 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Conagra Brands by 6.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 259,697 shares of the company’s stock valued at $6,926,000 after acquiring an additional 16,546 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Evercore ISI reduced their price target on Conagra Brands from $24.00 to $23.00 and set an “in-line” rating for the company in a report on Wednesday, September 24th. Stifel Nicolaus reduced their price target on Conagra Brands from $26.00 to $21.00 and set a “hold” rating for the company in a report on Friday, July 11th. Sanford C. Bernstein set a $21.00 price objective on Conagra Brands and gave the stock a “market perform” rating in a report on Friday, July 11th. Finally, JPMorgan Chase & Co. started coverage on Conagra Brands in a report on Wednesday, August 20th. They issued a “neutral” rating and a $20.00 price objective for the company. One analyst has rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $21.92.

Conagra Brands Price Performance

NYSE CAG opened at $17.43 on Friday. The company has a market capitalization of $8.34 billion, a price-to-earnings ratio of 9.90, a PEG ratio of 1.65 and a beta of 0.03. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.44 and a current ratio of 1.06. The stock has a 50-day moving average of $18.71 and a 200 day moving average of $20.56. Conagra Brands has a one year low of $16.94 and a one year high of $29.46.

Conagra Brands (NYSE:CAG) last released its quarterly earnings results on Wednesday, October 1st. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.62 billion. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The business’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, sell-side analysts forecast that Conagra Brands will post 2.35 EPS for the current year.

Conagra Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, October 30th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.0%. The ex-dividend date is Thursday, October 30th. Conagra Brands’s payout ratio is currently 79.55%.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.