Savoir Faire Capital Management L.P. Boosts Stock Position in Conagra Brands $CAG

Savoir Faire Capital Management L.P. grew its stake in shares of Conagra Brands (NYSE:CAG) by 46.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,422 shares of the company’s stock after buying an additional 77,386 shares during the period. Conagra Brands accounts for 2.4% of Savoir Faire Capital Management L.P.’s portfolio, making the stock its 15th biggest holding. Savoir Faire Capital Management L.P.’s holdings in Conagra Brands were worth $4,983,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Conagra Brands during the 1st quarter valued at about $27,000. Golden State Wealth Management LLC lifted its position in shares of Conagra Brands by 235.2% during the 1st quarter. Golden State Wealth Management LLC now owns 1,056 shares of the company’s stock valued at $28,000 after buying an additional 741 shares in the last quarter. Quaker Wealth Management LLC lifted its position in shares of Conagra Brands by 202.3% during the 2nd quarter. Quaker Wealth Management LLC now owns 1,227 shares of the company’s stock valued at $25,000 after buying an additional 2,427 shares in the last quarter. Wayfinding Financial LLC purchased a new position in shares of Conagra Brands during the 1st quarter valued at about $34,000. Finally, Summit Securities Group LLC purchased a new position in shares of Conagra Brands during the 1st quarter valued at about $45,000. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on CAG. Morgan Stanley boosted their price target on Conagra Brands from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Zacks Research raised Conagra Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, October 2nd. Stifel Nicolaus lowered their price target on Conagra Brands from $26.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, July 11th. Wells Fargo & Company boosted their price target on Conagra Brands from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $22.00 price target on shares of Conagra Brands in a report on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $21.92.

Conagra Brands Stock Up 0.3%

Shares of CAG opened at $17.43 on Friday. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 9.90, a price-to-earnings-growth ratio of 1.65 and a beta of 0.03. Conagra Brands has a 1 year low of $16.94 and a 1 year high of $29.46. The business’s 50 day simple moving average is $18.71 and its 200-day simple moving average is $20.56. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.06 and a quick ratio of 0.44.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. Conagra Brands had a return on equity of 11.72% and a net margin of 7.42%.The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period in the prior year, the firm earned $0.53 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. As a group, equities analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $1.40 annualized dividend and a dividend yield of 8.0%. Conagra Brands’s dividend payout ratio is currently 79.55%.

About Conagra Brands

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.