Engineers Gate Manager LP Invests $2.10 Million in Conagra Brands $CAG

Engineers Gate Manager LP bought a new stake in shares of Conagra Brands (NYSE:CAG) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 155,780 shares of the company’s stock, valued at approximately $2,097,000.

Several other institutional investors have also recently made changes to their positions in CAG. Cidel Asset Management Inc. grew its position in Conagra Brands by 22.5% during the second quarter. Cidel Asset Management Inc. now owns 14,542 shares of the company’s stock valued at $196,000 after buying an additional 2,672 shares during the period. SVB Wealth LLC raised its position in shares of Conagra Brands by 14.4% in the second quarter. SVB Wealth LLC now owns 122,462 shares of the company’s stock worth $1,648,000 after acquiring an additional 15,373 shares during the period. Pinnacle Wealth Management Advisory Group LLC purchased a new stake in shares of Conagra Brands during the 2nd quarter worth about $156,000. NorthRock Partners LLC acquired a new stake in shares of Conagra Brands during the 2nd quarter valued at about $304,000. Finally, Integrated Wealth Concepts LLC grew its holdings in Conagra Brands by 66.7% in the second quarter. Integrated Wealth Concepts LLC now owns 53,424 shares of the company’s stock valued at $719,000 after purchasing an additional 21,368 shares during the period. 83.75% of the stock is owned by hedge funds and other institutional investors.

Conagra Brands Stock Performance

NYSE:CAG opened at $15.04 on Wednesday. The company’s 50-day moving average is $15.16 and its two-hundred day moving average is $14.89. The firm has a market capitalization of $7.20 billion, a price-to-earnings ratio of -3.76 and a beta of -0.01. 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.

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

Conagra Brands Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Thursday, July 30th were paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Thursday, July 30th. Conagra Brands’s dividend payout ratio is -17.50%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CAG. JPMorgan Chase & Co. boosted their target price on shares of Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. BNP Paribas Exane dropped their target price on shares of Conagra Brands from $16.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, May 21st. Jefferies Financial Group reduced 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. Royal Bank Of Canada decreased their price target on shares of Conagra Brands from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. Finally, Weiss Ratings lowered shares of Conagra Brands from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $14.03.

Conagra Brands Company Profile

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded and private-label food products primarily in North America. Its portfolio spans frozen meals and sides, snacks, shelf-stable foods, condiments, refrigerated foods and cooking products, serving retail grocery, foodservice and other distribution channels.

Its well-known brands include Birds Eye, Healthy Choice, Banquet, Marie Callender’s, Duncan Hines, Reddi-wip, Slim Jim, Vlasic, Hunt’s and PAM.