Conagra Brands $CAG Stock Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in shares of Conagra Brands (NYSE:CAG) by 38.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 132,182 shares of the company’s stock after buying an additional 36,914 shares during the period. Maryland State Retirement & Pension System’s holdings in Conagra Brands were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Tema ETFs LLC boosted its holdings in shares of Conagra Brands by 9.3% in the second quarter. Tema ETFs LLC now owns 8,546 shares of the company’s stock worth $115,000 after acquiring an additional 725 shares during the period. Cooper Financial Group raised its stake in shares of Conagra Brands by 6.7% during the 3rd quarter. Cooper Financial Group now owns 13,695 shares of the company’s stock valued at $184,000 after purchasing an additional 861 shares during the period. Castle Rock Wealth Management LLC raised its stake in shares of Conagra Brands by 3.6% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 26,128 shares of the company’s stock valued at $374,000 after purchasing an additional 911 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Conagra Brands by 0.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 264,199 shares of the company’s stock valued at $4,153,000 after purchasing an additional 939 shares during the period. Finally, VestGen Advisors LLC raised its stake in shares of Conagra Brands by 10.0% during the 3rd quarter. VestGen Advisors LLC now owns 13,891 shares of the company’s stock valued at $187,000 after purchasing an additional 1,259 shares during the period. 83.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CAG. Weiss Ratings reissued a “sell (d)” rating on shares of Conagra Brands in a report on Tuesday, September 22nd. Deutsche Bank upped their price target on Conagra Brands from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, September 18th. Evercore set a $13.00 price target on shares of Conagra Brands in a report on Tuesday, September 29th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $14.00 price target on shares of Conagra Brands in a report on Thursday, October 1st. Finally, Barclays cut their price objective on shares of Conagra Brands from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, October 2nd. One analyst has rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $14.07.

Conagra Brands Price Performance

NYSE CAG traded up $0.17 during trading on Friday, reaching $14.71. The company’s stock had a trading volume of 8,172,614 shares, compared to its average volume of 10,362,875. The stock has a market capitalization of $7.03 billion, a PE ratio of -3.70 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. The firm has a fifty day moving average of $14.45 and a 200 day moving average of $15.20. Conagra Brands has a one year low of $12.53 and a one year high of $20.32.

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

Conagra Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Thursday, November 5th will be given a $0.1750 dividend. This represents a $0.70 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Thursday, November 5th. Conagra Brands’s dividend payout ratio is -17.59%.

Conagra Brands Company Profile

Conagra Brands is a packaged-food company that develops, manufactures and markets products for retail, foodservice and other customers. Its offerings include frozen meals and vegetables, snacks, baking products, condiments, cooking ingredients and meat snacks. The company’s portfolio includes brands such as Birds Eye, Healthy Choice, Marie Callender’s, Duncan Hines, Slim Jim, Orville Redenbacher’s, Hunt’s, Banquet and Reddi-wip. Its products are sold primarily in the United States, as well as in international markets.