United Capital Financial Advisors LLC Acquires Shares of 40,967 Conagra Brands $CAG

United Capital Financial Advisors LLC acquired a new position in Conagra Brands (NYSE:CAG) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 40,967 shares of the company’s stock, valued at approximately $551,000.

Other hedge funds have also modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al increased its position in shares of Conagra Brands by 24.8% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 661,029 shares of the company’s stock valued at $11,442,000 after buying an additional 131,287 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Conagra Brands by 23.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,125,901 shares of the company’s stock valued at $140,659,000 after buying an additional 1,554,725 shares in the last quarter. Leonteq Securities AG acquired a new stake in Conagra Brands in the 4th quarter valued at $2,415,000. Marathon Trading Investment Management LLC purchased a new stake in Conagra Brands in the 4th quarter worth $1,367,000. Finally, Hsbc Holdings PLC increased its holdings in Conagra Brands by 25.0% in the 4th quarter. Hsbc Holdings PLC now owns 785,989 shares of the company’s stock worth $13,634,000 after acquiring an additional 157,423 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on CAG shares. Evercore decreased their price objective on shares of Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Jefferies Financial Group cut their target price on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Wednesday, May 27th. Sanford C. Bernstein restated an “underperform” rating and set a $12.00 price target (down from $16.00) on shares of Conagra Brands in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. raised their price target on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Finally, Zacks Research cut Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Conagra Brands currently has an average rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands Stock Down 0.4%

NYSE CAG opened at $16.02 on Tuesday. The business has a fifty day moving average price of $14.85 and a 200 day moving average price of $15.19. 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 $7.67 billion, a P/E ratio of -4.00 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 earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $2.89 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The firm’s quarterly 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. Research analysts anticipate that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be given a dividend of $0.175 per share. The ex-dividend date is Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.4%. 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.