Wilsey Asset Management Inc. Grows Holdings in Conagra Brands $CAG

Wilsey Asset Management Inc. raised its stake in Conagra Brands (NYSE:CAG) by 5.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 2,371,086 shares of the company’s stock after purchasing an additional 122,713 shares during the quarter. Conagra Brands accounts for about 4.7% of Wilsey Asset Management Inc.’s portfolio, making the stock its 15th largest position. Wilsey Asset Management Inc.’s holdings in Conagra Brands were worth $31,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CAG. Bell Investment Advisors Inc grew its position in Conagra Brands by 156.9% in the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock worth $26,000 after acquiring an additional 1,029 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Conagra Brands during the second quarter valued at about $26,000. Harbour Investments Inc. raised its position in Conagra Brands by 80.4% during the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in Conagra Brands during the second quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in Conagra Brands during the third quarter worth about $33,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Analyst Upgrades and Downgrades

CAG has been the topic of several recent research reports. Royal Bank Of Canada reduced their price objective on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 16th. Wells Fargo & Company dropped their target price on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Monday, May 18th. Jefferies Financial Group cut their target price on Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. Zacks Research cut shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Finally, BNP Paribas Exane decreased their price target on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, May 21st. One investment analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $14.07.

Conagra Brands Stock Up 1.6%

NYSE CAG opened at $15.09 on Friday. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The stock has a market capitalization of $7.22 billion, a PE ratio of -3.77 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 business’s 50-day moving average is $14.01 and its 200 day moving average is $15.49.

Conagra Brands (NYSE:CAG) last released 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. 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 during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company posted $0.56 EPS. Conagra Brands’s quarterly 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. Sell-side analysts forecast that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio is currently -17.50%.

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.