Hsbc Holdings PLC Purchases 250,378 Shares of Conagra Brands $CAG

Hsbc Holdings PLC boosted its position in Conagra Brands (NYSE:CAG) by 31.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,036,367 shares of the company’s stock after purchasing an additional 250,378 shares during the period. Hsbc Holdings PLC’s holdings in Conagra Brands were worth $16,250,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC boosted its position in Conagra Brands by 93.6% in the first quarter. Summit Securities Group LLC now owns 6,779 shares of the company’s stock worth $107,000 after purchasing an additional 3,277 shares during the last quarter. Elevated Capital Advisors LLC bought a new position in Conagra Brands during the first quarter valued at about $471,000. Kestra Advisory Services LLC raised its position in Conagra Brands by 148.4% in the first quarter. Kestra Advisory Services LLC now owns 161,663 shares of the company’s stock worth $2,541,000 after acquiring an additional 96,584 shares during the period. Resona Asset Management Co. Ltd. boosted its stake in Conagra Brands by 22.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 6,485 shares of the company’s stock valued at $102,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Capstone Capital Management Ltd purchased a new position in Conagra Brands in the first quarter valued at about $173,000. 83.75% of the stock is owned by institutional investors.

Conagra Brands Stock Down 0.3%

Shares of CAG opened at $14.80 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The stock has a 50 day simple moving average of $13.65 and a two-hundred day simple moving average of $15.64. The firm has a market cap of $7.09 billion, a P/E ratio of -3.70 and a beta of -0.02.

Conagra Brands (NYSE:CAG) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the previous year, the firm earned $0.56 EPS. The business’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. On average, analysts forecast that Conagra Brands will post 1.45 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Thursday, July 30th. Conagra Brands’s dividend payout ratio is currently -35.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CAG shares. Barclays lifted their price target on shares of Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Wells Fargo & Company lowered their target price 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. TD Cowen cut their price target on Conagra Brands from $18.00 to $14.00 and set a “hold” rating for the company in a research note on Wednesday, March 25th. Morgan Stanley lowered their price objective on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, June 5th. Finally, 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 report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $14.07.

About Conagra Brands

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.