Bank of Nova Scotia Boosts Stock Holdings in Conagra Brands $CAG

Bank of Nova Scotia lifted its position in shares of Conagra Brands (NYSE:CAG) by 102.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,203 shares of the company’s stock after acquiring an additional 65,743 shares during the period. Bank of Nova Scotia’s holdings in Conagra Brands were worth $2,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. WealthPlan Investment Management LLC lifted its position in Conagra Brands by 5.3% in the 4th quarter. WealthPlan Investment Management LLC now owns 10,920 shares of the company’s stock valued at $189,000 after acquiring an additional 548 shares in the last quarter. All Terrain Financial Advisors LLC boosted its stake in Conagra Brands by 0.3% during the 4th quarter. All Terrain Financial Advisors LLC now owns 176,971 shares of the company’s stock valued at $3,063,000 after purchasing an additional 609 shares during the last quarter. Jackson Hole Capital Partners LLC increased its holdings in shares of Conagra Brands by 4.1% in the 4th quarter. Jackson Hole Capital Partners LLC now owns 17,960 shares of the company’s stock worth $311,000 after purchasing an additional 701 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Conagra Brands by 80.4% in the 4th quarter. Harbour Investments Inc. now owns 1,573 shares of the company’s stock worth $27,000 after purchasing an additional 701 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of Conagra Brands by 3.3% in the second quarter. EP Wealth Advisors LLC now owns 23,984 shares of the company’s stock worth $491,000 after purchasing an additional 772 shares during the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Conagra Brands Trading Up 0.5%

Shares of CAG stock opened at $15.51 on Thursday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.90 and a quick ratio of 0.31. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -3.88 and a beta of -0.02. Conagra Brands has a 1 year low of $12.53 and a 1 year high of $20.32. The firm has a fifty day moving average price of $13.79 and a 200-day moving average price of $15.58.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, July 15th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Conagra Brands had a positive return on equity of 10.44% and a negative net margin of 16.99%.Conagra Brands’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. 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 1.45 earnings per share for the current year.

Conagra Brands Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be given a $0.175 dividend. The ex-dividend date is Thursday, July 30th. This represents a $0.70 dividend on an annualized basis and a yield of 4.5%. Conagra Brands’s dividend payout ratio is presently -35.00%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lowered their price target 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. Wells Fargo & Company reduced their price objective on Conagra Brands from $14.00 to $13.00 and set an “underweight” rating for the company in a report on Monday, May 18th. The Goldman Sachs Group decreased their target price on Conagra Brands from $17.00 to $15.00 and set a “sell” rating for the company in a research report on Thursday, April 2nd. BTIG Research initiated coverage on shares of Conagra Brands in a research note on Monday, April 13th. They set a “neutral” rating on the stock. Finally, 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. 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. Based on data from MarketBeat, Conagra Brands presently has a consensus rating of “Reduce” and a consensus target price of $14.07.

Conagra Brands 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.