West Family Investments Inc. Buys New Stake in Conagra Brands $CAG

West Family Investments Inc. acquired a new position in Conagra Brands (NYSE:CAG) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 39,089 shares of the company’s stock, valued at approximately $526,000.

Several other institutional investors have also modified their holdings of CAG. Bell Investment Advisors Inc raised 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 valued at $26,000 after buying an additional 1,029 shares during the period. CYBER HORNET ETFs LLC bought a new stake in shares of Conagra Brands during the second quarter valued at approximately $26,000. Harbour Investments Inc. lifted its holdings 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 worth $27,000 after buying an additional 701 shares during the period. MUFG Securities EMEA plc purchased a new stake in Conagra Brands in the second quarter worth about $29,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in shares of Conagra Brands in the 3rd quarter worth approximately $33,000. 83.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on CAG. Barclays raised their price objective on Conagra Brands from $16.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Evercore dropped their price objective on shares of Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Zacks Research downgraded shares of Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. BNP Paribas Exane cut their price target on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, May 21st. Finally, Wells Fargo & Company lowered their price target on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating on the stock in a report on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $14.07.

Conagra Brands Stock Up 4.5%

NYSE CAG opened at $16.22 on Thursday. The business has a fifty day moving average price of $14.39 and a 200 day moving average price of $15.36. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. The company has a market cap of $7.76 billion, a P/E ratio of -4.06 and a beta of -0.03. Conagra Brands has a one year low of $12.53 and a one year high of $20.32.

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 the consensus estimate 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 earned $0.56 EPS. Conagra Brands’s 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. Research analysts anticipate that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The company 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 dividend of $0.175 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $0.70 annualized dividend and a dividend yield of 4.3%. 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.