Carolina Wealth Advisors LLC Increases Position in Conagra Brands $CAG

Carolina Wealth Advisors LLC lifted its position in Conagra Brands (NYSE:CAG) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,254 shares of the company’s stock after purchasing an additional 2,932 shares during the period. Conagra Brands comprises 1.4% of Carolina Wealth Advisors LLC’s portfolio, making the stock its 23rd largest holding. Carolina Wealth Advisors LLC’s holdings in Conagra Brands were worth $2,871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Conagra Brands by 2.7% in the first quarter. Vanguard Group Inc. now owns 60,403,845 shares of the company’s stock worth $1,610,971,000 after purchasing an additional 1,604,893 shares in the last quarter. Invesco Ltd. increased its stake in shares of Conagra Brands by 6.3% in the first quarter. Invesco Ltd. now owns 11,859,985 shares of the company’s stock worth $316,306,000 after purchasing an additional 698,630 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Conagra Brands by 49.5% in the first quarter. Dimensional Fund Advisors LP now owns 8,162,251 shares of the company’s stock worth $217,686,000 after purchasing an additional 2,702,407 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Conagra Brands by 233.7% in the first quarter. Ameriprise Financial Inc. now owns 5,985,256 shares of the company’s stock worth $159,625,000 after purchasing an additional 4,191,555 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Conagra Brands by 315.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 4,120,156 shares of the company’s stock worth $84,340,000 after purchasing an additional 3,128,203 shares in the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CAG. The Goldman Sachs Group cut shares of Conagra Brands from a “neutral” rating to a “sell” rating and cut their target price for the company from $26.00 to $21.00 in a research note on Monday, June 9th. JPMorgan Chase & Co. began coverage on shares of Conagra Brands in a research note on Wednesday, August 20th. They set a “neutral” rating and a $20.00 target price for the company. UBS Group cut their target price on shares of Conagra Brands from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, September 24th. Sanford C. Bernstein set a $21.00 target price on shares of Conagra Brands and gave the company a “market perform” rating in a research note on Friday, July 11th. Finally, Bank of America cut shares of Conagra Brands from a “neutral” rating to an “underperform” rating and cut their target price for the company from $27.00 to $20.00 in a research note on Thursday, June 12th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Conagra Brands has a consensus rating of “Reduce” and an average price target of $21.92.

Conagra Brands Stock Performance

Shares of NYSE:CAG opened at $19.12 on Friday. Conagra Brands has a 52 week low of $17.89 and a 52 week high of $30.47. The stock has a market capitalization of $9.14 billion, a P/E ratio of 10.86, a PEG ratio of 1.83 and a beta of 0.03. The firm has a fifty day simple moving average of $18.97 and a two-hundred day simple moving average of $21.57. The company has a quick ratio of 0.24, a current ratio of 1.06 and a debt-to-equity ratio of 0.81.

Conagra Brands (NYSE:CAG) last issued its quarterly earnings data on Wednesday, October 1st. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. Conagra Brands had a net margin of 7.42% and a return on equity of 11.72%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the company posted $0.53 EPS. The business’s revenue was down 5.8% on a year-over-year basis. Conagra Brands has set its FY 2026 guidance at 1.700-1.85 EPS. On average, analysts expect that Conagra Brands will post 2.35 earnings per share for the current fiscal year.

Conagra Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Thursday, October 30th. Conagra Brands’s dividend payout ratio (DPR) is 79.55%.

Conagra Brands Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.