NewEdge Advisors LLC Sells 60,049 Shares of Conagra Brands $CAG

NewEdge Advisors LLC trimmed its position in shares of Conagra Brands (NYSE:CAG) by 36.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,615 shares of the company’s stock after selling 60,049 shares during the period. NewEdge Advisors LLC’s holdings in Conagra Brands were worth $1,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CAG. CYBER HORNET ETFs LLC bought a new position in Conagra Brands in the 2nd quarter worth approximately $26,000. MUFG Securities EMEA plc bought a new stake in shares of Conagra Brands in the second quarter valued at approximately $29,000. Harbour Investments Inc. increased 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 worth $27,000 after acquiring an additional 701 shares during the period. Bell Investment Advisors Inc increased its position in Conagra Brands by 156.9% during 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 during the period. Finally, Caitong International Asset Management Co. Ltd acquired a new position in Conagra Brands during the 3rd quarter valued at $33,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CAG. Morgan Stanley reduced their price target on shares of Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. Jefferies Financial Group dropped their price objective on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. Zacks Research lowered shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Stifel Nicolaus reduced their target price on shares of Conagra Brands from $17.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Conagra Brands from $14.00 to $12.00 and set a “hold” rating on the stock in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have issued a Sell rating to the 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%

Shares of CAG stock opened at $15.63 on Friday. Conagra Brands has a one year low of $12.53 and a one year high of $20.32. 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 stock has a fifty day moving average price of $14.24 and a 200 day moving average price of $15.42. The stock has a market cap of $7.48 billion, a P/E ratio of -3.91 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. Conagra Brands had a negative net margin of 16.99% and a positive return on equity of 10.44%. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the prior year, the company posted $0.56 EPS. The business’s revenue was up 3.6% on a year-over-year basis. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. Analysts predict 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 paid a $0.175 dividend. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.5%. Conagra Brands’s payout ratio is presently -17.50%.

Conagra Brands 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.