Hsbc Holdings PLC Has $16.25 Million Position in Conagra Brands $CAG

Hsbc Holdings PLC increased its stake in shares of Conagra Brands (NYSE:CAG) by 31.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,036,367 shares of the company’s stock after purchasing an additional 250,378 shares during the quarter. Hsbc Holdings PLC owned approximately 0.22% of Conagra Brands worth $16,250,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC raised its position in Conagra Brands by 4.2% during the 1st quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after purchasing an additional 954 shares during the last quarter. United Services Automobile Association acquired a new position in Conagra Brands in the first quarter valued at approximately $225,000. Empowered Funds LLC boosted its holdings in shares of Conagra Brands by 5.9% during the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after buying an additional 2,038 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Conagra Brands by 40.7% during the 1st quarter. Woodline Partners LP now owns 40,326 shares of the company’s stock worth $1,075,000 after buying an additional 11,664 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its position in shares of Conagra Brands by 3.9% during the 2nd quarter. Gamco Investors INC. ET AL now owns 50,450 shares of the company’s stock worth $1,033,000 after buying an additional 1,900 shares during the period. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CAG. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Conagra Brands from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Thursday, June 18th. UBS Group raised their price target on shares of Conagra Brands from $13.00 to $14.00 and gave the stock 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 research note on Wednesday, June 10th. Wells Fargo & Company dropped their price objective 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. Finally, The Goldman Sachs Group cut their price objective on shares of Conagra Brands from $17.00 to $15.00 and set a “sell” rating on the stock in a research report on Thursday, April 2nd. 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $14.07.

Conagra Brands Stock Performance

CAG opened at $14.80 on Thursday. Conagra Brands has a 1-year low of $12.53 and a 1-year high of $20.32. The company has a market cap of $7.09 billion, a price-to-earnings ratio of -3.70 and a beta of -0.02. The company’s fifty day moving average price is $13.65 and its two-hundred day moving average price is $15.64. The company has a current ratio of 0.90, a quick ratio of 0.31 and a debt-to-equity ratio of 1.02.

Conagra Brands (NYSE:CAG) last issued 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 firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.89 billion. During the same period last year, the company earned $0.56 earnings per share. 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. On average, analysts expect that Conagra Brands will post 1.45 EPS for the current fiscal year.

Conagra Brands Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Stockholders 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 annualized dividend and a dividend yield of 4.7%. Conagra Brands’s dividend payout ratio is -35.00%.

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.