Pallas Capital Advisors LLC Makes New $631,000 Investment in Conagra Brands $CAG

Pallas Capital Advisors LLC purchased a new stake in shares of Conagra Brands (NYSE:CAG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 46,857 shares of the company’s stock, valued at approximately $631,000.

Several other hedge funds have also added to or reduced their stakes in CAG. Bell Investment Advisors Inc grew its holdings in Conagra Brands by 156.9% during the 1st 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. CYBER HORNET ETFs LLC acquired a new position in shares of Conagra Brands in the 2nd quarter valued at $26,000. Harbour Investments Inc. lifted its stake in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock valued at $27,000 after purchasing an additional 701 shares during the period. MUFG Securities EMEA plc bought a new position in shares of Conagra Brands in the 2nd quarter worth $29,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in shares of Conagra Brands in the 3rd quarter worth $33,000. Institutional investors own 83.75% of the company’s stock.

Conagra Brands Trading Up 4.5%

NYSE CAG opened at $16.22 on Thursday. Conagra Brands has a 12 month low of $12.53 and a 12 month high of $20.32. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02. The stock has a 50 day moving average of $14.39 and a 200-day moving average of $15.36. The company has a market cap of $7.76 billion, a PE ratio of -4.06 and a beta of -0.03.

Conagra Brands (NYSE:CAG) last released its quarterly earnings data on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. On average, equities research analysts anticipate that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th will be given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio is presently -17.50%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Royal Bank Of Canada reduced their price target on shares of 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. UBS Group boosted their price target on shares of Conagra Brands from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Evercore decreased their price target on shares of Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Finally, Wells Fargo & Company dropped their price objective on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a research note on Monday, May 18th. One research 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. According to data from MarketBeat.com, Conagra Brands presently has a consensus rating of “Reduce” and a consensus target price of $14.07.

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.