Summitry LLC Acquires 6,027 Shares of Conagra Brands $CAG

Summitry LLC raised its holdings in Conagra Brands (NYSE:CAG) by 64.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,376 shares of the company’s stock after acquiring an additional 6,027 shares during the period. Summitry LLC’s holdings in Conagra Brands were worth $315,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Conagra Brands by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company’s stock valued at $1,610,971,000 after purchasing an additional 1,604,893 shares during the last quarter. Geode Capital Management LLC boosted its position in Conagra Brands by 1.5% in the second quarter. Geode Capital Management LLC now owns 12,870,239 shares of the company’s stock valued at $262,405,000 after buying an additional 193,829 shares in the last quarter. Invesco Ltd. grew its stake in shares of Conagra Brands by 6.3% during the first quarter. Invesco Ltd. now owns 11,859,985 shares of the company’s stock worth $316,306,000 after buying an additional 698,630 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Conagra Brands by 49.5% during the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock worth $217,686,000 after buying an additional 2,702,407 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Conagra Brands by 233.7% during the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock worth $159,625,000 after buying an additional 4,191,555 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

CAG has been the topic of several recent research reports. UBS Group cut their price objective on Conagra Brands from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, September 24th. Morgan Stanley increased their target price on Conagra Brands from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Zacks Research upgraded Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $22.00 price objective on shares of Conagra Brands in a research note on Thursday, October 2nd. Finally, Evercore ISI cut their target price on shares of Conagra Brands from $24.00 to $23.00 and set an “in-line” rating on the stock in a research report on Wednesday, September 24th. One research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Reduce” and an average target price of $21.92.

Insiders Place Their Bets

In other Conagra Brands news, SVP Melissa C. Napier sold 13,011 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $17.19, for a total value of $223,659.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.

Conagra Brands Trading Up 0.1%

NYSE CAG opened at $17.45 on Friday. The stock has a market capitalization of $8.34 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.65 and a beta of 0.03. The business has a 50 day simple moving average of $18.28 and a 200 day simple moving average of $19.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44. Conagra Brands has a one year low of $16.60 and a one year high of $28.69.

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

Conagra Brands Announces Dividend

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

About Conagra Brands

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.