Quantitative Investment Management LLC Purchases New Stake in Conagra Brands $CAG

Quantitative Investment Management LLC purchased a new stake in shares of Conagra Brands (NYSE:CAG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 51,768 shares of the company’s stock, valued at approximately $696,000.

Other large investors have also added to or reduced their stakes in the company. Bell Investment Advisors Inc raised its stake in shares of Conagra Brands by 156.9% during the first quarter. Bell Investment Advisors Inc now owns 1,685 shares of the company’s stock valued at $26,000 after acquiring an additional 1,029 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Conagra Brands in the second quarter worth about $26,000. Harbour Investments Inc. grew its stake in shares of 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 Conagra Brands during the 2nd quarter valued at about $29,000. Finally, Rakuten Securities Inc. increased its holdings in Conagra Brands by 339.7% during the 2nd quarter. Rakuten Securities Inc. now owns 2,273 shares of the company’s stock valued at $31,000 after purchasing an additional 1,756 shares during the period. Institutional investors own 83.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Royal Bank Of Canada dropped their price objective 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. Jefferies Financial Group reduced their target price 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. Zacks Research downgraded Conagra Brands from a “hold” rating to a “strong sell” rating in a report on Monday, May 11th. Barclays raised their price target on Conagra Brands from $16.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Conagra Brands from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Thursday, July 16th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $14.07.

Conagra Brands Stock Performance

Conagra Brands stock opened at $16.12 on Wednesday. The stock’s 50 day simple moving average is $14.91 and its two-hundred day simple moving average is $15.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.90. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of -4.03 and a beta of -0.01. Conagra Brands has a fifty-two week low of $12.53 and a fifty-two week high of $20.32.

Conagra Brands (NYSE:CAG) last announced its earnings results on Wednesday, July 15th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.89 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

Conagra Brands Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Thursday, July 30th will be issued 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 4.3%. Conagra Brands’s dividend payout ratio is -17.50%.

Conagra Brands Company 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.