Bank of Nova Scotia Buys 65,743 Shares of Conagra Brands $CAG

Bank of Nova Scotia raised its stake in shares of Conagra Brands (NYSE:CAG) by 102.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,203 shares of the company’s stock after purchasing an additional 65,743 shares during the quarter. Bank of Nova Scotia’s holdings in Conagra Brands were worth $2,047,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WealthPlan Investment Management LLC boosted its stake in shares of Conagra Brands by 5.3% during the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock valued at $189,000 after purchasing an additional 548 shares in the last quarter. All Terrain Financial Advisors LLC raised its stake in Conagra Brands by 0.3% in the fourth quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock worth $3,063,000 after buying an additional 609 shares in the last quarter. Jackson Hole Capital Partners LLC raised its stake in Conagra Brands by 4.1% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock worth $311,000 after buying an additional 701 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after buying an additional 701 shares during the period. Finally, EP Wealth Advisors LLC lifted its holdings in Conagra Brands by 3.3% in the second quarter. EP Wealth Advisors LLC now owns 23,984 shares of the company’s stock worth $491,000 after buying an additional 772 shares during the period. 83.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Evercore cut their price objective on Conagra Brands from $18.00 to $13.00 in a research report on Wednesday, June 10th. The Goldman Sachs Group decreased their target price on Conagra Brands from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Thursday, April 2nd. UBS Group raised their target price on Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings lowered Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. Finally, Barclays upped their price target on Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Stock Up 0.5%

CAG stock opened at $15.51 on Thursday. The business has a 50 day moving average of $13.79 and a 200 day moving average of $15.58. The firm has a market cap of $7.42 billion, a PE ratio of -3.88 and a beta of -0.02. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The company has a quick ratio of 0.31, a current ratio of 0.90 and a debt-to-equity ratio of 1.02.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, topping the consensus estimate 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 business had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the company posted $0.56 earnings per share. The company’s revenue for the quarter 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. On average, research analysts forecast that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be given a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, July 30th. Conagra Brands’s payout ratio is currently -35.00%.

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.