217,333 Shares in Conagra Brands $CAG Purchased by Jupiter Topco LLC

Jupiter Topco LLC purchased a new stake in shares of Conagra Brands (NYSE:CAG) in the 2nd quarter, Holdings Channel reports. The fund purchased 217,333 shares of the company’s stock, valued at approximately $2,922,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CAG. NewEdge Advisors LLC grew its stake in Conagra Brands by 4.2% during the first quarter. NewEdge Advisors LLC now owns 23,541 shares of the company’s stock worth $628,000 after buying an additional 954 shares during the last quarter. United Services Automobile Association bought a new position in shares of 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% in the 1st quarter. Empowered Funds LLC now owns 36,356 shares of the company’s stock worth $970,000 after acquiring an additional 2,038 shares in the last quarter. Woodline Partners LP grew its position in 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 acquiring an additional 11,664 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its position in 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 acquiring an additional 1,900 shares during the last quarter. 83.75% of the stock is currently owned by institutional investors and hedge funds.

Conagra Brands Stock Performance

Conagra Brands stock opened at $16.18 on Thursday. The company has a market cap of $7.74 billion, a PE ratio of -4.04 and a beta of -0.01. 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 has a 1 year low of $12.53 and a 1 year high of $20.32. The company’s 50-day moving average is $14.96 and its two-hundred day moving average is $15.14.

Conagra Brands (NYSE:CAG) last posted its quarterly earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, topping 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 business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. Conagra Brands’s revenue for the quarter 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. Equities analysts anticipate that Conagra Brands will post 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th were given a dividend of $0.175 per share. The ex-dividend date was 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%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CAG shares. Barclays lifted 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. Jefferies Financial Group decreased their price objective on shares of Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Wednesday, May 27th. Royal Bank Of Canada dropped their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th. 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 report on Thursday, July 16th. Finally, Morgan Stanley reduced their price objective on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. One 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. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $14.07.

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.