MGO One Seven LLC Purchases 46,544 Shares of Conagra Brands $CAG

MGO One Seven LLC raised its position in Conagra Brands (NYSE:CAG) by 273.0% in the third quarter, HoldingsChannel reports. The fund owned 63,592 shares of the company’s stock after purchasing an additional 46,544 shares during the quarter. MGO One Seven LLC’s holdings in Conagra Brands were worth $855,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CAG. BlackRock Inc. bought a new stake in shares of Conagra Brands during the second quarter valued at approximately $1,071,275,000. Bank of New York Mellon Corp acquired a new stake in Conagra Brands in the 2nd quarter valued at $47,815,000. Freestone Grove Partners LP bought a new stake in Conagra Brands during the 2nd quarter valued at $30,316,000. Bank of America Corp DE bought a new stake in Conagra Brands during the 2nd quarter valued at $25,047,000. Finally, Dimensional Fund Advisors LP increased its stake in Conagra Brands by 9.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,323,789 shares of the company’s stock valued at $303,771,000 after purchasing an additional 1,701,624 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CAG shares. UBS Group upped their price objective on shares of Conagra Brands from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of Conagra Brands in a report on Tuesday, September 22nd. Barclays lowered their target price on shares of Conagra Brands from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of Conagra Brands from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, September 18th. Finally, JPMorgan Chase & Co. boosted their price objective on Conagra Brands from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $14.07.

Conagra Brands Stock Performance

Shares of NYSE CAG traded down $0.27 during midday trading on Friday, reaching $15.24. The company’s stock had a trading volume of 9,658,506 shares, compared to its average volume of 10,607,918. Conagra Brands has a 12-month low of $12.53 and a 12-month high of $20.32. The firm has a 50 day moving average price of $14.56 and a 200-day moving average price of $15.27. The stock has a market capitalization of $7.27 billion, a P/E ratio of -3.83 and a beta of 0.02. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.10 and a quick ratio of 0.39.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings results on Wednesday, September 30th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.13. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. Conagra Brands had a positive return on equity of 11.46% and a negative net margin of 16.95%. Conagra Brands’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the business posted $0.39 earnings per share. Conagra Brands has set its FY 2027 guidance at 1.400-1.500 EPS. As a group, equities analysts predict that Conagra Brands will post 1.46 earnings per share for the current year.

Conagra Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be given a $0.1750 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $0.70 annualized dividend and a yield of 4.6%. Conagra Brands’s payout ratio is currently -17.59%.

About Conagra Brands

Conagra Brands, Inc is a packaged food company that develops, manufactures and markets branded food products for retail, foodservice and other commercial customers. The company’s portfolio includes frozen meals and side dishes, snacks, refrigerated foods, shelf-stable groceries, condiments and cooking products.

Its brands include Birds Eye, Healthy Choice, Marie Callender’s, Banquet, Duncan Hines, Reddi-wip, Hunt’s, Slim Jim, Orville Redenbacher’s, Chef Boyardee, Hebrew National, Vlasic and PAM.