Public Employees Retirement System of Ohio Purchases Shares of 147,544 Conagra Brands $CAG

Public Employees Retirement System of Ohio acquired a new stake in shares of Conagra Brands (NYSE:CAG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 147,544 shares of the company’s stock, valued at approximately $1,986,000.

Several other large investors have also modified their holdings of the stock. NewEdge Advisors LLC increased its position 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 purchasing an additional 954 shares during the last quarter. United Services Automobile Association acquired a new position in shares of Conagra Brands in the 1st quarter valued at $225,000. Empowered Funds LLC grew its stake 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 valued at $970,000 after buying an additional 2,038 shares during the period. Woodline Partners LP grew its stake 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 valued at $1,075,000 after buying an additional 11,664 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings 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 last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Price Performance

Shares of NYSE CAG opened at $15.48 on Monday. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32. The company has a market cap of $7.41 billion, a P/E ratio of -3.87 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. The stock has a fifty day moving average price of $15.02 and a 200 day moving average price of $15.08.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data 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 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 firm posted $0.56 earnings per share. 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 business also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Investors of record on Thursday, July 30th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $0.70 annualized dividend and a yield of 4.5%. Conagra Brands’s payout ratio is -17.50%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley cut their target price on Conagra Brands from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, June 5th. Weiss Ratings lowered Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, June 25th. Evercore cut their price objective on Conagra Brands from $18.00 to $13.00 in a report on Wednesday, June 10th. Jefferies Financial Group reduced their price objective on Conagra Brands from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Wednesday, May 27th. Finally, Royal Bank Of Canada decreased their target price on Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Thursday, July 16th. 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target 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.