West Family Investments Inc. Takes $526,000 Position in Conagra Brands $CAG

West Family Investments Inc. acquired a new position in Conagra Brands (NYSE:CAG) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,089 shares of the company’s stock, valued at approximately $526,000.

Other institutional investors have also recently modified their holdings of the company. Bell Investment Advisors Inc grew its position in Conagra Brands by 156.9% during the 1st quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after purchasing an additional 1,029 shares during the last quarter. CYBER HORNET ETFs LLC purchased a new position in shares of Conagra Brands in the 2nd quarter worth $26,000. Harbour Investments Inc. boosted its position in Conagra Brands by 80.4% in the fourth quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after purchasing an additional 701 shares during the last quarter. MUFG Securities EMEA plc purchased a new position in shares of Conagra Brands in the second quarter worth approximately $29,000. Finally, Rakuten Securities Inc. boosted its stake in shares of Conagra Brands by 339.7% during the 2nd quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock worth $31,000 after acquiring an additional 1,756 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Trading Down 1.3%

Shares of CAG opened at $15.28 on Wednesday. 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 company has a market cap of $7.31 billion, a P/E ratio of -3.82 and a beta of -0.01. Conagra Brands has a twelve month low of $12.53 and a twelve month high of $20.32. The company’s fifty day simple moving average is $15.09 and its 200-day simple moving average is $15.03.

Conagra Brands (NYSE:CAG) last released its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the company earned $0.56 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, analysts expect that Conagra Brands will post 1.45 EPS for the current year.

Conagra Brands Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.6%. Conagra Brands’s dividend payout ratio (DPR) is presently -17.50%.

Wall Street Analyst Weigh In

CAG has been the subject of a number of recent research reports. Jefferies Financial Group cut their price objective on Conagra Brands from $15.00 to $13.00 and set a “hold” rating for the company in a research note 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 report on Thursday, July 16th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $12.00 price target (down from $16.00) on shares of Conagra Brands in a research note on Wednesday, June 3rd. Wells Fargo & Company cut their price objective on shares of Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, May 18th. Finally, BNP Paribas Exane reduced their target price on Conagra Brands from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, May 21st. One 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’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.